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Washington RETAINS Control of the Global Free Market Order and ILLUMINITI Sovereignty to sustain Galaxy Post Modern Apartheid Manusmriti Rule of Ethnic Cleansing, Racial Discrimination, War Industry, Civil war Promotion, TERROR and Hatred, Mass Destruction and Continued Bloodshed and Hatred. Thus,Indian BRAHAMIN Finance Minister Pranab Mukherjee on Tuesday congratulated French Finance Minister Christine Lagarde on her appointment as the new Managing Director of the International Monetary Fund. India's draft mines law to be flexible on profit-sharing!Reserve Bank of India allows issue of shares under FDI scheme!The government on Monday said that foreign investors, other than FIIs, would be allowed to invest up to $10 billion in domestic mutual funds, a move that will help in moderating volatility in the capital market. This class of investors called Qualified Foreign Investors (QFIs), but not Foreign Institutional Investors (FIIs), can invest money into domestic mutual funds through Unit Confirmation Receipts (DPs) or Depository Participant route.Nevertheless,Nuclear suppliers tighten trade rules, may irk India!However,India will get lightweight anti-submarines torpedoes to arm the eight P-8I maritime patrol aircraft it is buying from the US, with the Obama administration notifying the potential sale to the US Congress on Tuesday. Indian Holocaust My Father`s Life and Time - SIX HUNDRED SEVENTY ONEPalash Biswashttp://indianholocaustmyfatherslifeandtime.blogspot.com/http://basantipurtimes.blogspot.com/Singur case: State, Tata directed to file affidavits!The Calcutta High Court Thursday ordered Tata Motors Ltd. and the West Bengal government to submit their affidavits in the Singur land case for an expeditious hearing, a lawyer said. The Supreme Court had Wednesday stayed the return of land acquired from farmers in Singur for the Tata Motors Nano project till the final order on the issue by the Calcutta High Court.

Kolkata: A shocking case of 18 infant deaths has come to light from Kolkata's BC Roy Hospital. And that too, in less than two days.

The figure was released by the Chief Minister's office today.

The tragedy at BC Roy Hospital may have gone unnoticed but for the death of nine-month-old Aryan Gazi this morning. Angry relatives trashed the hospital and attacked doctors who they say were negligent.

"I begged the doctors to help my son, I fell at his feet. But the doctors didn't listen. I was crying... my son died," said Hannan Gazi, Aryan's father.

The doctors, however, deny allegations that there has been negligence on the hospital's part.

The Superintendent of the B C Roy Hospital, D Pal told PTI the babies who had died were either pre-mature or suffering from septicemia or low-birth weight problems. The medical institute is considered to be the largest referral paediatric hospital in the eastern region.

Chief Minister Mamata Banerjee is also the Health Minister of West Bengal. She has ordered an enquiry.

"I have come to know that the babies were brought to the hospital at the last stage and that the cause of death was not enteric disease. I have ordered a probe and asked the authorities to submit a report to me," Ms Banerjee said.

The medical institute is considered to be the largest referral paediatric hospital in the eastern region.

Earlier in September 2002, there were protests in the same hospital when 14 children died of broncho-pneumonia and gastro-enteritis.

12 babies die at govt hospital in Kolkata, Mamata orders probe

Kolkata: Twelve babies died at the state-run B C Roy Hospital for Children here, triggering protests by locals and relatives. However, unconfirmed sources said 17 babies died at the hospital in the last 48 hours.

The West Bengal government has ordered an inquiry into the deaths at the institute, which is considered to be the largest referral paediatric hospital in the eastern region.

Hospital superintendent, D Pal said that most of the babies were either pre-mature or suffering from septicemia or low-birth weight problems. "Most of these babies were brought in a moribund stage," he said.

"I have come to know that the babies were brought to the hospital at the last stage and that the cause of death was not enteric disease. I have ordered a probe and asked the authorities to submit a report to me," West Bengal chief minister Mamata Banerjee, who also holds the health portfolio, told reporters here.

Aggrieved over the deaths, family members and locals barged into the main building of the hospital alleging medical negligence, police said. The agitators also blocked the hospital road and were later chased away by policemen.

Earlier in September 2002, there were protests in the same hospital when 14 children died of broncho-pneumonia and gastro-enteritis.

Source: PTI

Washington RETAINS Control of the Global Free Market Order and ILLUMINITI Sovereignty to sustain Galaxy Post Modern Apartheid Manusmriti Rule of Ethnic Cleansing, Racial Discrimination, War Industry, Civil war Promotion, TERROR and Hatred, Mass Destruction and Continued Bloodshed and Hatred. Thus,Indian BRAHAMIN Finance Minister Pranab Mukherjee on Tuesday congratulated French Finance Minister Christine Lagarde on her appointment as the new Managing Director of the International Monetary Fund. India's draft mines law to be flexible on profit-sharing! Reserve Bank of India allows issue of shares under FDI scheme!The government on Monday said that foreign investors, other than FIIs, would be allowed to invest up to $10 billion in domestic mutual funds, a move that will help in moderating volatility in the capital market. This class of investors called Qualified Foreign Investors (QFIs), but not Foreign Institutional Investors (FIIs), can invest money into domestic mutual funds through Unit Confirmation Receipts (DPs) or Depository Participant route.Nevertheless,Nuclear suppliers tighten trade rules, may irk India!However,India will get lightweight anti-submarines torpedoes to arm the eight P-8I maritime patrol aircraft it is buying from the US, with the Obama administration notifying the potential sale to the US Congress on Tuesday. The 25 paise coin, popularly known as 'chavanni' and which first came into being in 1950, died an official death on Wednesday.Finance Minister Pranab Mukherjee on Monday said the G-20 is playing a significant role not only in the revival of the world economy, but also in jointly addressing the common problems being faced by the world, such as money laundering or sustainable growth. The United Progressive Alliance (UPA) government's much-vaunted strategies for inclusive growth " stood exposed a few years ago when Arjun Sengupta Commission report highlighted that the "other India" gained very little from most pro-poor schemes.Economic Times reports!Oil PSUs to lose Rs121,700cr in FY'12, despite fuel price hike!Bihar says no industry at cost of agriculture!Allow up to 49% FDI in multi-brand retail: Consumer Affairs MinisterThe Reserve Bank of India said it has decided to permit the issuance of equity, preference shares under the government route of the foreign direct investment scheme for some categories."Payments should be made directly by the foreign investor to the company. Payments made through third parties citing the absence of a bank account or similar such reasons will not be eligible for issuance of shares towards FDI ," the notification said.The Bihar government which would implement a new industrial policy from July 1, will not help industry in acquiring fertile land or any crop land.Indian equity benchmarks rallied over 4% in the June series, backed by financial, capital good and FMCG companies' shares. Healthcare and technology companies' shares too were quite supportive while auto and oil & gas lost the ground. Benchmarks moved sharply higher in the past few minutes as buying activity intensified in FMCG, realty and banking space on the settlement day of June series expiry. Meanwhile, World stocks and the euro hit three-week highs on Thursday after Greece took a step closer to avoiding a default in the short-term.The government today hiked petrol and diesel prices by a marginal Rs 0.27 a litre and Rs 0.15 per litre respectively following increase in the commission paid to petrol pump dealers. On the other hand,espite one of the steepest hike in fuel prices , state-run oil firms will still end the fiscal will a whooping Rs 121,700 crore revenue loss on selling diesel, domestic LPG and kerosene at government rates. The news of New Indo US defence deal was welcomed by the US embassy in New Delhi, which said the sale of Mk-54 torpedoes reflects the mutual benefits of the India-US security relationship. "We do recognise without taking into account development component, merely addressing the current crisis by proving finances and resources would not be possible unless development is taken into (account) as an important ingredient in the decision-making process of the G-20, which has been recognised in the Seoul summit," Pranab Mukherjee said. The free and frank discussion which takes place at G-20 meetings is another important aspect of the G-20, he said. "In most of the issues, we arrive at a consensus and no decision is taken by votes or by division. This practice should be encouraged in all other forums," Mukherjee said. It is because of the effective leadership and intervention of the G-20 that FATA has taken successful steps to unearth black money and to prevent money laundering and to counter terror finance, he observed. "I think G-20 is doing well and we should encourage it to play more effective role in the coming years, unless we achieve sustainable growth," he added. "G-20 is doing a great job," US Treasury Secretary Geithner agreed. "One thing we have done in the last two years is to build a consensus on reforms of the governing structures of international financial institutions, more balanced, more legitimate," he said. "We all recognise that for there to be better economic apparatus for the world as a whole, we have to find a way for countries to work together more carefully to make sure they take into consideration the external effects in their policies in making judgments together," Geithner said.The Pentagon has "officially notified" the potential sale of Mk-54 lightweight torpedoes to the Indian Navy. The Mk-54 is the most advanced lightweight torpedo in the US Navy inventory and is intended to be employed with the P-8I maritime patrol aircraft, eight of which are currently under construction for India by US aerospace major Boeing. The P-8I, equipped with Mk-54 torpedoes, will provide highly-effective long-range anti-submarine warfare capabilities for the Indian Navy. "The final content and price for the deal will be determined during discussions with the Indian government," the US embassy said. "This sale reflects the mutual benefits of the U.S.-India security partnership. For India, the combined sale of the P-8I aircraft with the Mk-54 torpedoes will add to India's anti-submarine capability, as it expands its ability to protect India and the critical sea lanes of the Indian Ocean," it said. "The offer highlights the US commitment to share cutting-edge technology with India and to ensure that both nations enjoy the benefits of a secure and stable South Asia," it added. Amid a debate within the government on allowing foreign direct investment in multi- brand retail , the nodal Consumer Affairs Ministry is insisting on a FDI cap of 49 per cent in the sensitive sector, sources said. In a congratulatory message to Lagarde, Mukherjee congratulated her on her new position and said India is looking forward to working with her in her capacity as the new IMF Managing Director. Lagarde, who had travelled to New Delhi canvassing for her election, is the first woman named to the top IMF post since the institution's inception in 1944. "The Executive Board of the International Monetary Fund (IMF) today selected Christine Lagarde to serve as IMF Managing Director and Madame Chairman of the Executive Board for a five-year term, starting on July 5, 2011," an official IMF announcement said Tuesday. "I am deeply honored by the trust placed in me by the Executive Board. I would like to thank the fund's global membership warmly for the broad-based support I have received. I would also like to express my respect and esteem for my colleague and friend, Agustin Carstens," she said in her first official statement. Earlier in the day, at a joint news conference with US Treasury Secretary Timothy Geithner , Mukherjee pointed out that during the election process, India had insisted that the IMF Managing Director should be selected through a transparent mechanism, not specific to any region or any particular nation. "On the basis of that, we also suggested that we would like to be a part of the consensus, which should be evolved," he said. VIENNA: A 46-nation export control group has acted to bar states that shun a global anti-nuclear weapons pact from obtaining technology which can be used to make atomic bombs, diplomats and experts say. Last week's decision by the Nuclear Suppliers Group to tighten guidelines for transfers of sensitive uranium enrichment and reprocessing technology may irritate nuclear-armed India, after Washington helped it win a waiver from NSG rules in 2008. The NSG -- which includes the United States, Russia, China, European Union countries and some others -- tries to ensure that nuclear exports are not diverted for military purposes. India already has enrichment and reprocessing capabilities and does not need more advanced equipment of this type for its nuclear industry, arms proliferation expert Daryl Kimball said. But the more stringent guidelines may still be seen as a blow for the Asian power. "The Indians are going to cry foul. They want to be able to say that they are under no nuclear technology trade restrictions and that they are a responsible nuclear power," said Kimball, director of the Washington-based Arms Control Association. "It is about prestige. It is not about any technical need." India has so far not commented about the revised NSG guidelines, which have yet to be made public. To import nuclear goods, all nations except the five officially recognised atomic weapons states must usually place nuclear sites under safeguards of the International Atomic Energy Agency, the U.N. nuclear watchdog, NSG guidelines say. But after Washington sealed a nuclear supply accord with India, it won a unique exemption in 2008 following contentious negotiations. India gained access to technology and fuel while it was allowed to continue its nuclear weapons programme. The landmark civilian nuclear cooperation agreement ended India's atomic isolation following its 1974 nuclear test and could mean billions of dollars in business for U.S. firms. The NSG's revision of its voluntary guidelines -- under discussion for years and adopted at a June 23-24 meeting in the Dutch town of Noordwijk -- does not apply to trade in reactors or in the uranium needed to fuel them, experts say. But an added condition stipulates that only parties to the nuclear Non-Proliferation Treaty (NPT) can get uranium enrichment or spent fuel reprocessing equipment and technology. FLAW FIXED This would prevent all NPT outsiders -- India, Pakistan, Israel and North Korea -- from importing such items, which can have both civilian and military applications. India and Pakistan -- which have fought three wars and have tested nuclear arms -- have both refused to sign the 189-nation NPT, which is a cornerstone of global disarmament efforts. "The new (NSG) guidelines include language saying transfers of enrichment and reprocessing technologies should be limited to NPT states and India doesn't qualify," proliferation expert Mark Hibbs of the Carnegie Endowment for International Peace said. "India has been trying to get that particular item out of the new guidelines and they failed," Hibbs said. "It limits their access to sensitive technology." Kimball said the revised wording helped "fix a key flaw" in India's waiver, ensuring that sensitive atomic items were not transferred to the country and used in its military programme. One diplomat who attended the NSG meeting said the move should not be a surprise for India as it had been well-flagged already at the time of the 2008 exemption. He also suggested there would be little practical impact as India had not been seeking -- and no NSG state had intended to sell it -- this kind of technology even before the amendment. "The key issue for India is image. The NSG exemption gave India the appearance of being drawn into the mainstream. This change in the guidelines affects that view of itself," he said. But David Albright, president of the Institute for Science and International Security think-tank, said India often tried to obtain dual-use goods for its gas centrifuge work from abroad. "If the new NSG guidelines impose new conditions or new attention on these dual-use purchases, India may encounter more problems getting the necessary goods for its unsafeguarded nuclear programmes," Albright said. Washington last year announced support for Indian membership of the NSG and a State Department spokeswoman on Friday said there had been progress in "bringing India closer" to the group. But Hibbs said the latest NSG decision underscoring the NPT requirement "basically pushes back the deadline" for any decision on Indian membership. Kimball criticised the idea of opening the door to India joining, saying it would further harden Pakistan's resolve to produce more fissile material for nuclear weapons.India could allow foreign and domestic mining companies to share less than 26 per cent of their profits with local communities under a draft law, a mining ministry source said, in a climbdown aimed at attracting badly needed investments to the sector. The bill proposes the profit-sharing formula in a bid to smooth land acquisition, a touchy issue in the countryside, where many oppose natural resources being carted away by outsiders. A part of government moves to expand social programmes for the poor, the bill seeks to simultaneously please its core support base, block flows of new recruits to the Maoists and balance modern lifestyles against traditional ways. While industry bodies are reconciled to sharing some profits, they have baulked at 26 per cent, saying that will raise business costs too much and deter investors, a fear the government appears to be recognising. The ministry source told Reuters while the bill is likely to retain a reference to 26 per cent as a ballpark figure, it would include a clause that would allow companies to approach the government for a concession. "There is a realisation that you cannot have a blanket rate for all minerals because the cost of mining of each mineral is different," the source said on condition of anonymity because the bill has still to be presented before parliament. "So what we are doing now is giving companies the option to come to the government and say a certain per centage is too high. We can then consider. "For example if you are asking for 26 per cent (of profit from a mine) from a diamond miner , will he come? He may say I'm willing to give 2-3 per cent." The mining ministry says that profit-sharing should make it easier for mining projects to win local approval and accelerate the pace of developments. Years of protests, sometimes violent, have delayed many industrial projects, including South Korean steel maker POSCO's plant in Orissa state, the biggest foreign direct investment in India at $12 billion. Protests against big industrial projects are a phenomenon of the developing world from Brazil to Indonesia, and making investors plough back a portion of their income into development of local communities has been one way of dealing with resentment. India's mining sector has only opened up fully to private investors in recent years and state-run companies have lacked the funds and expertise to probe deeper than the top 50 metres or so where its iron ore and coal reserves are found. The mining bill should go to the government for approval after a possible final meeting of a group of ministers on July 7 and could be presented in parliament in August. The bill could take a year or so to make its way through parliament."Starting with 49 per cent FDI in the sector would be a safe thing," a senior Consumer Affairs Ministry official said. However, the Department of Industrial Policy and Promotion (DIPP), which is piloting the proposal for the politically sensitive sector, is in favour of a majority stake (51 per cent) for foreign retail chains, with set-up conditionalities. Prime Minister Manmohan Singh , in his interaction with editors yesterday, said there is a "big debate about it" in government and Parliament. "There is fear of small traders, but without breaking such institutional barriers, there is fear of food inflation. I am hoping we can make a beginning in these areas. These are some of the ideas that are uppermost in my mind," Singh said. The other big area of inter-ministerial differences relate to the minimum limit set for investment. Of the $100 million (about Rs 450-460 crore) minimum investment proposed by the DIPP, at least 50 per cent has to be earmarked for back-end infrastructure like cold storage, soil testing labs and seed farming. However, the Consumer Affairs Ministry wants a larger share of 75 per cent of multi-brand retail FDI to be invested in back-end supply chains. "As India's back-end infrastructure is weak, the foreign investor should invest at least 75 per cent of the $100 million in it," the official said. While the DIPP has floated another discussion paper on the subject, a Committee of Secretaries is going through the issue and is expected to meet again soon. The Industry Ministry has also proposed that multi-brand retail giants like Wal-Mart, Carrefour and Tesco may be allowed only in the 36 large cities which have population of over 1 million, according to the 2001 census. Retail giants like US-based Wal-Mart and French Carrefour are very keen to enter the segment. Bharti Enterprises and Wal-Mart Stores entered into a joint venture in August, 2007, and started cash-and-carry stores named 'BestPrice Modern Wholesale' in 2009. At present, 51 per cent FDI is permitted in single brand retail, while 100 per cent is allowed in the wholesale cash-and-carry segment."After taking into account the increase in diesel, domestic LPG and kerosene price as well as cut in customs and excise duty, the three oil marketing companies will see their under-recoveries (revenue loss) come down from Rs 171,140 crore to Rs 121,704 crore for the fiscal," said an official of Indian Oil Corp (IOC), the nation's largest oil firm. An Empowered Group of Ministers had yesterday approved a Rs 3 per litre hike in diesel price, which after including local sales tax translated into a Rs 3.37 per litre increase in retail price at Delhi. This steepest raise in diesel rates ever, more than the Rs 3 per litre hike effect in June 2008. A Rs 50 per cylinder hike in domestic LPG rates equals the increase in the then NDA government led by Atal Bihari Vajpayee had effect in March 2000. The Rs 2 per litre increase in kerosene rate is the second hike in the price of cooking fuel used by poor in a decade. Last June, kerosene rates were raised by Rs 3 a litre. IOC Chairman R S Butola said despite the Rs 3 per litre increase coupled with cut in customs or import duty from 7.5 per cent to 2.5 per cent and reduction in excise duty from Rs 4.60 per litre to Rs 2 a litre, diesel is still being sold at a loss of Rs 6.90 per litre. Similarly, kerosene is being sold at Rs 25.37 per litre loss and domestic LPG at a loss of Rs 331.13 per 14.2-kg cylinder. The government approved raising dealer's commission paid on petrol from Rs 1.218 per kilolitre to Rs 1,499 per kl, resulting in a Rs 0.27 per litre increase in retail price with effect from midnight tonight, an official said here. Similarly, the dealers' commission on diesel was hiked from Rs 757 per kl to Rs 912 per kl, resulting in a Rs 0.15 per litre increase in rates at retail level. Petrol, at present, is priced at Rs 63.37 per litre in Delhi and will from tomorrow cost Rs 63.64 per litre. Diesel, whose rates had last week been hiked by Rs 3 a litre, will cost Rs 41.27 per litre instead of 41.12 a litre. The official said the increase in dealers' commission is lower than 39.5 paisa hike recommended by an expert committee of the Ministry of Petroleum and Natural Gas. Similarly, the increase in commission on diesel too is lower than 17 paisa per litre increase suggested by the committee which was headed by Apurva Chandra , Joint Secretary (Marketing) in the Ministry of Petroleum and Natural Gas.The Bihar government which would implement a new industrial policy from July 1, will not help industry in acquiring fertile land or any crop land. "We will not acquire even a single crop land. We want industry, but not at the cost of agriculture ," Bihar deputy chief minister Sushil Modi said today at the sidelines of ICC AGM in Kolkata. Modi said state did not wish to acquire land against the wishes of the farmers. Bihar, which has attracted Rs 2,000 crore investments so far, was facing a huge scarcity of power, Modi said. He added there were 56 proposals for power projects. Modi further said to bring greater transparency, the state has asked its four lakh officers and clerks to declare their assets. Centre has not yet responded to the proposal for a dry dock at Paradip, he added.At 3:05 pm; Bombay Stock Exchange's Sensex was at 18849.26, up 155.40 points or 0.83 per cent. The 30-share index hit a high of 18872.74 and low of 18723.72 intraday. National Stock Exchange's Nifty was at 5649.65, up 49.20 points or 0.88 per cent. The broader index touched a high of 5649.75 and low of 5649.65 in trade so far. BSE Midcap Index was up 0.41 per cent and BSE Smallcap Index moved 0.59 per cent higher. Amongst sectoral indices, BSE FMCG Index was up 1.74 per cent, BSE Realty Index gained 1.08 per cent and BSE Bankex moved 0.88 per cent higher. BSE Healthcare Index was down 0.06 per cent. Jaiprakash Associates (3.72%), Hindustan Unilever (3.60%), Jindal Steel (3.26%), ITC (1.88%) and Hero Honda (1.76%) were amongst the top Sensex gainers. ONGC (-1.60%), Bharti Airtel (-1.61%), Maruti (-1.33%), Hindalco (-0.55%) and Wipro (-0.42%) were the major losers. Market breadth was positive on the BSE with 1513 gainers against 1310 losers.Greece's parliament is set to approve a final austerity bill needed to secure 12 billion euros ($17 billion) of international aid later in the day after Wednesday's success in passing the first hurdle. Athens's latest efforts helped remove some near-term uncertainty in the market, offering some respite to a quarter when global equities and commodities suffered losses. Concerns that the U.S. and Chinese economies are slowing also weighed on financial markets this quarter, with world stocks measured by the MSCI All-Country World Index down 1.2 percent in April-June -- on track for the benchmark's first quarterly loss in a year. U.S. Treasuries, however, were boosted by the uncertainty despite the Federal Reserve's plan to end its bond buying programme. Yields on 10-year U.S. Treasuries have fallen about 38 basis points so far this quarter. On Thursday, the MSCI All-Country World Index advanced 0.6 percent. In Asia, Japan's Nikkei average ended 0.2 percent higher on the day to post a 0.6 percent rise for the second quarter after losing 4.6 percent in January-March. Investors, however, will be closely watching whether Greece can successfully implement those harsh and unpopular austerity steps. "The main focus will shift to the implementation of the austerity plan and whether Greece is reaching its target," RBS said in a note. "It is likely that Greece will not meet the very strict austerity budget and reform targets and so the markets will be focused on how Greece reacts to the very likely demands for remedial measures at some point -- with eyes then obviously on the quarterly IMF review, next due in September and December." Europe's FTSEurofirst 300 index added 0.3 percent on Thursday after surging 1.7 percent the previous session, while Greece's share benchmark put on 0.8 percent and the Thomson Reuters Peripheral Eurozone index gained 1.3 percent. "Greece is just avoiding one default, it is going to be difficult to sell-off (state-owned) assets and the public is against what the government is doing and sometime down the line that has got to come to a head," said Will Hedden, sales trader at IG Index in London. Reflecting such concerns in the markets, Greece's 10-year government bond yields rose 30.8 basis points to 16.852 percent, though they were off their peak of 18.90 percent hit two weeks ago. 29 JUN, 2011, 11.36AM IST,ET BUREAU UPA govt ignored farm, labour reforms; failed at creating jobs: ExpertsNEW DELHI: The United Progressive Alliance (UPA) government's much-vaunted strategies for inclusive growth " stood exposed a few years ago when Arjun Sengupta Commission report highlighted that the "other India" gained very little from most pro-poor schemes. The key findings of the latest National Sample Survey Office (NSSO) survey bring to the fore, yet again, the futility of pursing misguided job-generation policies in the name of lofty goals instead of going for all-out reforms, said economists and political analysts. "The latest data reinforce the conviction that what we actually want are reforms, not mere schemes," said renowned economist Shankar Acharya . The government may not face any direct political threat, but they are following wrong policies in its efforts to achieve something big, he added. The Manmohan Singh-led UPA government began showcasing the grand idea of financial inclusion in its first stint starting from 2004 and later expanded its pro-poor schemes to the second term as it looked to warm up to the aam aadmi (common man). It also drew flak from other political parties, especially the Left, which calls the UPA's pro-poor policy a "policy of deception" by creating greater avenues for profit maximisation for the corporates at the cost of increasing burdens on the common man. According to the latest NSSO data, only 2 lakh jobs were created annually from 2004-05 to 2009-10, when the first UPA government was in power compared with 12 million jobs created by the previous Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) from 1999-00 to 2005-05. The latest survey was conducted between July 2009 and June 2010. Madhu Kishwar, senior fellow at the Centre for the Study of Developing Societies, said: "These schemes such as the MNREGA and others are only band-aid solutions to address poverty and generate jobs." "What is actually required," said Kishwar, who is also a member of the National Commission on Enterprises in the Unorganised and Informal Sector, "are economic reforms in non-corporate sectors such as agriculture and labour". She added that the poor can't wait for benefits of liberalisation to trickle down. Instead, they need reforms that directly help them earn more, said she. http://economictimes.indiatimes.com/news/politics/nation/upa-govt-ignored-farm-labour-reforms-failed-at-creating-jobs-experts/articleshow/9032584.cmsWe are not anti-Tata: West Bengal governmentKOLKATA: The West Bengal government today submitted before the Calcutta High Court that it was not against the Tatas but in favour of farmers and employment generation. "The (High) Court has directed today (Thursday) that according to SC order, the main application be heard. Till now, we were arguing for interim relief but since the SC has desired that the writ petition be heard out, accordingly the parties have agreed and the court has passed an order directing the state government to file affidavit by July 8 and TML (Tata) to give their reply on July 12. "The writ petition will be taken up July 14 for hearing," said Tata Motors counsel Siddharth Mitra. The apex court also said it will not interfere in the decision, and directed the high court to rule within a month due to the urgency of the matter. The Singur Land Rehabilitation and Development Act was passed in the assembly June 14, scrapping the land lease given to the Tatas by the previous Left Front government for the Nano plant. The act came into force June 21 and the very next day, Tata Motors moved the Calcutta High Court challenging the legislation. But the high court refused the company's plea to restrain the state government from re-distributing the land. The automaker Tuesday approached the Supreme Court against the "undue haste" being shown by the government in returning the land after it was denied interim relief by the Calcutta High Court.The Supreme Court on Wednesday halted Mamata Banerjee-led West Bengal government's programme of redistribution of the land to farmers which acquired by the previous government for Tata Motors' Nano car project at Singur in the state. The apex court asked the Calcutta High Court to decide within one month the legality of Singur Land Rehabilitation and Development (SLRD) Act which enables the state government to take back the land and redistribute it to the owners. "As an interim arrangement, we direct the state not to return the land to the unwilling owners until further orders being passed by the high court," said a vacation bench comprising Justice P Sathasivam and Justice AK Patnaik in its interim order on Wednesday. It passed the order on the plea of Tata Motors' counsel Mukul Rohatgi, who alleged that the state government is going ahead with its programme of redistribution of the land to farmers which were allotted to the company. Even last night, the state government had redistributed the land to 30 people. This comes at a time when the apex court was schedule to hear the case, submitted Rohatgi seeking order to restrain the government from its ongoing redistribution of such land. "Our lease for the land is for 99 years and still subsisting. How can the state government interfere with it," wondered Rohatgi. This was, however, opposed by state government counsel PP Rao. He said that the apex court should not interfere in the matter as the validity of the Singur Land Rehabilitation and Development (SLRD) Act, 2011, is sub-judice before the Calcutta High Court. At this Justice Sathasivam, however, said, "Some limited protection should be given to the petitioner at this point of time". It was also backed by justice Patnaik who during the course of the hearing remarked that the matter required to be looked into as a matter of right and not as a political issue. The bench said that some interim arrangement has to be made until high court decides the matter. The apex court then asked the high court to expeditiously decide the issue of legality of the Singur Land Rehabilitation and Development (SLRD) Act, 2011 preferable within a period of one month. To ensure that the high court shall decide the matter in an impartial manner, the apex court in its order said, it is not expressing any opinion on the merit of the case. During the hearing of the case, the apex court, observed that the state government can go ahead with the survey and processing of such land for the purposes of redistribution to the owners. However, in the order posted on the website of the apex court, it has not been mentioned. The court order came after hearing the arguments of both Tata Motors and state government counsel for nearly half an hour. Rohatgi commenced the arguments informing the bench that nearly 1,000 acres of land was acquired by then state government in 2007 for the company's project. He accused the present political dispensation in the state driving out the company from going ahead with its Nano project from Singur.Contesting the Tata Motors Ltd prayer that the Singur Rehabilitation and Development Act 2011 be declared unconstitutional, senior counsel for the government Saktinath Mukherjee submitted before Justice Saumitra Pal that the government was answerable to the people as 1000 acres of fertile land was taken away, but not used for the purpose it was acquired for. Mukherjee submitted that in a letter dated September 28, 2010, TML had told West Bengal Infrastructure Development Corporation ( WBIDC )), the state nodal agency, that it had shifted the Nano car plant to Gujarat and on their future plan for the land at Singur they stated their inability to give any assurance. There was nothing against the Tatas, but the state was only concerned about generating employment for which the land had been acquired and leased out to TML, he stated. Mukherjee pleaded that the only issue was returning 400 acre to unwilling farmers, while TML was welcome to set up the plant in the remaining 600 acre, but it did not happen. Noting that nobody asked TML to go away from the state, he said that the government was not against industrialisation, but was pro-farmer. Mukherjee said that Singur and Nandigram had taught that farmers must have a say over their land and this was happening in other parts of the country like Orissa and Uttar Pradesh. He submitted that West Bengal government was the pioneer on the issue and no other state had given credit to farmer demands. The lease to TML had become zero value as they did not utilise it for the specific purpose that the government leased the land to them and within the specific period of time and as such the government enacted the law and took it back. Government pleader Ashok Kumar Banerjee submitted that TML was still welcome to set up industry on 600 acre. He submitted that TML had violated the lease clauses by not setting up the industry within three years and as such there was nothing wrong in taking back the land of which the government was the owner. He prayed that the petition by TML, which challenged the validity of the Singur Act 2011, be rejected. Of the total 997.97 acres acquired by the government in 2007, TML was leased out 645 acres while the remaining was for vendors and other purposes. Yesterday the high court had rejected the TML prayer for a stay on distribution of land to 'unwilling' farmers. The matter would be taken up for hearing again tomorrow.Christine Lagarde chosen to lead IMF; first woman in top jobWASHINGTON: French Finance Minister Christine Lagarde has been chosen to lead the International Monetary Fund . She will become the first female managing director of the global lending organization. Lagarde's selection became all but assured when the Obama administration endorsed her earlier Tuesday. Hours later, the IMF's 24-member board voted to appoint her to the position. She had also won support from Europe, China and Russia. ``I am deeply honored by the trust placed in me,'' Lagarde said in a statement after the vote. ``I would like to thank the fund's global membership warmly for the broad-based support I have received.'' Lagarde will face immediate challenges once she begins a five-year term next week. She'll have to prod fellow European officials to take painful steps to prevent a default by Greece. She'll face pressure from emerging nations that want a greater voice at the IMF. And she'll be looked upon to restore the organization's reputation, which was tarred by a scandal involving the man she replaced. Dominique Strauss-Kahn resigned last month after being charged with sexually assaulting a New York City hotel housekeeper. He has denied the charges. She was chosen by consensus, the IMF said in a statement. Mexico's Agustin Carstens challenged her, but his candidacy never caught fire. Lagarde's ``exceptional talent and broad experience will provide invaluable leadership ... at a critical time for the global economy,'' U.S. Treasury Secretary Timothy Geithner said. Lagarde, 55, will be the first person to lead the IMF who isn't an economist. She led the Chicago-based law firm Baker & McKenzie before entering French politics in 2005. She speaks impeccable English and spent much of her career in the United States. As one of the longest-serving ministers under French President Nicolas Sarkozy, she made the country's labor market rules more flexible. Forbes has listed her among the world's most powerful women. Her appointment puts two women in prominent leadership roles at the organization. In April, Nemat Shafik, an Egyptian economist and former World Bank official, was appointed a top deputy at the fund. Shafik said last month the IMF is boosting its efforts to recruit women. The fund wants 25 percent to 30 percent of its management positions to be held by women by 2014, Shafik said. In addition to the most recent charges, Strauss-Kahn was reprimanded in 2008 for having a brief affair with a subordinate, though he faced no disciplinary action. Lagarde told the IMF's board last week that the managing director ``has to lead by example.'' She promised to ``restore staff pride in working at the IMF'' as part of a ``healing process.'' Lagarde will be expected to help stabilize Europe's debt crisis. ``This will put her in the position to work more closely with her European counterparts and push them if needed,'' said Domenico Lombardi, a senior fellow at the Brookings Institution and a former member of the IMF's executive board. That's likely one reason why even some developing countries, such as China, supported her candidacy, Lombardi said. China owns billions of dollars in euro-dominated bonds and has little interest in seeing the European debt crisis worsen.

Committed to UK-India strategic relationship: CableLONDON: Britain is strongly committed to building a strategic relationship with India, which has transformed considerably over the last decade, Vince Cable , Secretary of State for Business, Innovation and Skills has said. Noting that India has registered a growth which is next only to China, Cable said business to business relations with India form a crucial part of UK's strategic ties with the country. "We are strongly committed to build a strategic relationship. It is happening at various levels including business to business," Cable, who was Guest of Honour at a reception hosted by the Confederation of Indian Industry at Lancaster House here said. India's High Commissioner to the UK Nalin Surie , G P Hinduja, President of the Hinduja Group , Lord Navnit Dholakia , Lord Raj Loomba were among those who attended the reception. Noting that India has changed considerably during the last one decade, Cable pointed out that at present Britain's largest manufacturing company is owned by the Tatas. He said besides high growth, the mobile phone subscribers in the country have crossed 600 million. "This is happening when the businessworld elsewhere is struggling to catch up," he said. Expressing confidence that India would make further progress in the next one year, Cable said "I hope, I will still be here, to see India expand further". The reception was hosted by B Muthuraman, President, Confederation of Indian Industry to meet members of CII CEOs' delegation.NAPM opposes Planning Commission engaging WB to review pro-poor programmsEven as the battle over the contentious Lok Pal bill rages, civil society groups have come out strongly against the Planning Commission's act of engaging the World Bank to review key anti-poverty schemes of the government such as Public Distribution System (PDS), Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), Rashtriya Suraksha Bima Yojana (RSBY) and Indira Awaas Yojana among others. "...(this) is most shocking and unacceptable. We oppose and reject it in strongest possible terms," the National Alliance of People's Movements or NAPM said in a statement here on the subject, accusing the UPA II government of systematically undermining India's sovereignty. Expressing "deep contempt" for the Plan panel's move, the NAPM has demanded that the WB report be rejected outrightly and that issues to the 12th Plan be redrafted, keeping all pro-poor programs intact, and with measure to strengthen them and not making any turns which will weaken it. "Schemes like MGNREG are the result of years' long struggles and people of the country are committed to go to any extent to protect it. The objective of the 12th Plan should be democratising the governance through mechanisms to achieve greater transparency, participation and accountability. Commissioning institutes like the World Bank is effectively going in the opposite direction," it said. In 2004, the UPA government had tried to induct the WB into the decision making of the Planning Commission directly but had to back track following the strong public outcry against the move. Now, however, civil society has turned is ire against the Plan Panel for its decision to incorporate part of the recommendations of the WB report, 'Social protection for a changing India,' which in two volumes in May 2011, in the 12 Plan paper. The 12 th Plan period begins in the 2012-13 financial year. The Approach Paper is likely to be out soon. .The WB report strongly argues against Public Distribution System (PDS), the only support of the poor and vulnerable; recommends a cash transfer mechanism instead of PDS; finds problems with Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREG) and recommends Public Private Partnership (PPP) as a model for social protection. "The... recommendations of the (WB) report strongly resonate in the issues to the approach to 12th Five Year Plan. The one most significant common aspect is a clear bent towards the public private partnership (PPP) in social sectors like health, education etc.," NAPM said pointing that in presentations of issues for the approach to the 12th Plan period, the role of PPP in secondary and tertiary healthcare has already been given priority and argued for creating a conducive envrionment to the expansion of the private sector there are as yet very few successful examples of PPP projects in this country. . . The WB study recommends an intermediate reform option, which would retain a food-based entitlement program but introduce private sector participation in grain procurement and delivery and a more fundamental overhaul of the PDS administration through use of smart cards. The issues to the approach to the 12th Plan, NAPM said, clearly spell out reforms in the social sector by modifying the Essential commodities Act or ECA and the APMC Act, which would impact the procurement system and PDS significantly. 28 MAY, 2011, 03.47AM IST, PRABHA JAGANNATHAN,ET BUREAU India should lead reforms with Food BillGood politics and good economics can make compatible bedfellows, if the timing is right. Food, its producers and consumers, are now the Centre's most potent political and economic battleground. Politically speaking, this could be the best time for the UPA to reclaim its dog-eared pro-people credentials through the Bill. The Right to Food Bill has triggered many apprehensions, including fears of a higher subsidy burden, an adverse impact on private sector participation in the foodgrain sector, leading to higher open market prices for wheat and rice, and so on. The UPA has taken a rights-based approach on work and education before this. But effective implementation of the food law will be the most challenging act for the UPA government , more so because several countries have taken the cash transfer option and moved away from physical handling of grain. Like the landmark employment-guarantee legislation NREGA - among the biggest and most challenging in the world - there are bound to be glitches in implementation that can be ironed out gradually. Despite its shortcomings the NREGA has undoubtedly been good for the economy and Congress' politics. Higher food subsidy spend for right to food should not be a major economic problem, in any case, it was long expected. Critics differ over whether physical handling of foodgrain or cash transfers and food coupons are a better option. The food ministry does not expect 100% offtake and has projected additional spends of around. Rs 15,000 crore over the. Rs60,000 crore subsidy bill. The extra subsidy has to be viewed both against the food and fuel price trajectories of 2020, and increasing population pressure. Land under crops and productivity are stagnant. The lack of a legislation-backed approach to food would be glaring in a country which indulges in public chest-thumping over its position as an emerging economic power. Economists such as Jayati Ghosh have criticised the cash transfer option arguing that in the overall strategy of development and poverty reduction, cash transfers cannot, and should not, replace the public provision of essential goods and services, but rather supplement them. Food economists such as CACP chief Ashok Gulati and others have cautioned against the adverse impact the government's physical buys of close to 60% of the marketable surplus of grain from the market could have on open market prices and the participation of the private sector. That is a valid fear and the Centre is appearing to take cognizance of this by planning pilot cash transfer projects in select districts by early next year, specially since maximum buys of 80 m tonnes of grain needs sustained production highs. However, the cash transfer is likely to be effective only after Adhaar comes into being countrywide. But the compelling political reasons for pushing the Bill through now outweigh other issues for the present. On its second anniversary, the UPA faces the stinging charge of betraying the aam aadmi with unprecedented food and fuel price hikes. Forced to move its high profile food minister and ally NCP chief to mollify the public over persistently high food prices, both PM and FM have had to jettison the shockingly nonchalant "we're not astrologers" attitude on soaring price of essentials. Worse, dogged by both, they've had to peg down earlier growth projections. Meanwhile, by announcing free rice distribution for the poor of Tamil Nadu, AIADMK president J Jayalalithaa has threatened to puncture the food plank and trigger off competitive welfare games among the Congress' regional rivals. The ruling party has to wrest back the initiative soon. To shore up its political dividends in key foodgrain producers Punjab and UP, the Congress has to put the food law in place now, with several months still left to go for key state elections. UP, centre of Rahul Gandhi's farmer agenda, is the country's biggest wheat producer and the second largest rice producer. UP has a key role in the Centre's grain procurement for welfare programmes. Yet its farmers are stuck with lower than MSP prices every year. In Punjab, from where the Centre procures the most for PDS currently, the SAD has already become the produce price for paddy farmers. Deteriorating soil health, depleting water tables and adequate compensation to shift farmers from foodgrain have become key poll issues. What has made the food law most politically imperative now, though, could be charges against PM Manmohan Singh and the UPA of drift on economic reforms, poor governance and fostering corruption in high places. The ruling Congress now badly needs to resolve the aam aadmi's trust deficit. A wimpish and hesitant food guarantee programme based on executive order and meant only for BPL consumers as suggested by the Rangarajan committee cannot achieve those desired goals. For six months in the run up to the recent polls , the government put all economic reforms on hold, including exports of sugar, rice and wheat, freeing urea prices and bringing in FDI into multi brand retail. After elections, pressure is mounting on the government to carry forward that reform agenda, conditionally or not. The Food Bill could be the conducive people-friendly measure to lead the the new reforms drive. That would still leave scope for the UPA to indulge in any necessary "course correction" in the last year and half of its regime, a move initiated by ex-PM and reforms initiator P V Narasimha Rao .http://economictimes.indiatimes.com/news/economy/agriculture/Lead-reforms-with-Food-Bill/articleshow/8614016.cms28 MAY, 2011, 03.55AM IST, Lobbying pays, and how!Was the excessively cosy relationship between the financial sector and policy-makers a leading factor in both the financial crisis and the subsequent soft-peddling towards some key players? On December 31, 2007, The Wall Street Journal reported that Ameriquest Mortgage and Countrywide Financial , two of the largest mortgage lenders in the US, spent $20.5 million and $8.7 million respectively in political donations, campaign contributions, and lobbying activities from 2002 through 2006 to defeat an anti-predatory lending legislation that could have mitigated reckless lending practices. Such lobbying is not unusual. Citigroup , for instance, is reported to have lobbied intensively against the Predatory Lending Consumer Protection Act of 2001 aimed at putting tighter restrictions on lenders (spending a total of $3 million over January-June 2002). Needless to say it was never signed into law. Despite such anecdotal evidence, formal analysis of the political economy factors underlying the crisis has been scant. A recent NBER paper* tries to correct this. It asks whether lobbying lenders behaved differently from non-lobbying lenders during 2000-07 and how they performed in 2008. It identifies all federal bills targeted by the financial industry lobbying and focuses on the lobbying specifically aimed at rules and regulations of consumer protection in mortgage lending, underwriting standards, and securities laws. It finds lenders that lobbied more intensively (i) originated mortgages with higher loan-to-income ratios (ii) securitised a faster growing proportion of loans originated; and (iii) had faster growing mortagage loan portfolios It finds faster relative growth of mortgage loans by lobbying lenders during 2000-06 was associated with higher delinquency rates in 2008. Also lobbying lenders experienced negative abnormal stock returns at the time of the failures of Bear Stearns and Lehman Brothers , but positive abnormal returns around the announcement of the bailout program. Finally, it examined the determinants of how bailout funds were distributed and found that being a lobbying lender was associated with a higher probability of being a recipient of these funds. Thus the findings indicate that lobbying was associated ex ante with more risk-taking and ex post with worse performance. This is consistent with some lenders being more likely to benefit from lax regulation: these lenders lobbied more aggressively; the ensuing lax regulatory environment allowed them to engage in riskier lending; and such lending exposed them, directly or indirectly, to worse outcomes during the crisis. Interestingly, the market anticipated lobbying lenders to benefit more from the bailout, and they indeed did, perhaps because they were hit harder by the crisis and/or because they had closer connections to policymakers. Why are some lenders more likely to benefit from lax regulation? Possibly because they specialise in catering to riskier borrowers; or, they may be overoptimistic and may have honestly underestimated the likelihood of an adverse shock. Then, these lenders may have lobbied to signal their private information to the policymaker and prevent tighter regulation that would otherwise have restricted profitable lending opportunities. If lobbying lenders are specialised or overoptimistic, their motive for lobbying is consistent with informationbased theories. Alternatively, some lenders may have distorted incentives and might have lobbied to create a regulatory environment that allowed them to exploit short-term gains at the cost of long-term profits. An extreme view could be that certain lenders engaged in specialised rent-seeking and lobbied to increase their chances of preferential treatment, eg, a lower probability of scrutiny by bank supervisors or even a higher probability of being bailed out in the event of a financial crisis. Overall, the paper suggests the political influence of the financial industry played a role in the accumulation of risks, and hence, contributed to the financial crisis. At a time when we are seriously considering allowing more private players into the banking space and there is growing evidence of the nexus between business and policy-makers, the findings of the paper make for sober reflection. A Fistful of dollars: Lobbying and the financial crisis: S Deniz Igan, Prachi Mishra and Thierry Tressel, NBER Working Paperhttp://economictimes.indiatimes.com/policy/lobbying-pays-and-how/articleshow/8614137.cms29 JUN, 2011, 08.31PM IST,ET BUREAU Centre likely to open up foodgrain exportsNEW DELHI: At long last, the Centre is likely to open up foodgrain exports, albeit in a capped manner. Food minister K V Thomas said here today that his ministry was "not averse" to opening up grain exports "at the earliest." "We're not negative to it. We're reviewing grain needed for servicing the right to food bill and the EGoM will take a decision soon. The core ministry has suggested in a note to Commerce that exports initially be opened up urgently "in order to advantage farmers," based on the production estimates given by the agriculture ministry. "Whenever the EGoM meets next, this will figure on its agenda," the minsiter said. Indications are that the farm and food ministries are keen that once exports are opened up, farmers will begin to get a good price in the open market for their produce this kharif marketing season, thereby reducing the procurement and storage pressure on the Centre which currently runs into several hundred crores in holding costs and balloons the food subsidy bill. Having had to face stringent criticism over food grain prices plummeting below declared MSP in the just gone rabi marketing season, the government wants all the more certain that farmers, in the thick of the sowing season for the summer season, will be benefitted. Grain output targets have exceeded estimates marginally but the farm ministry had suggested that 2mt of wheat and one million tonne of rice be exported. The food ministry itself, it is indicated, is keen on one million tonne each of rice and wheat in exports. "We have to be somewhat cautious since the IMD has forecast the possibility of Below Normal monsoons," minister Thomas said. However, there is no decision yet on the quantity and on whether exports will be from the Central pool or by the private sector. That decision is likely ot be also taken by the EGoM. "While the foodgrain stocks with the Centre are invaluable in ensuring food security, it is simultaneously a challenge to ensure that storage and distribution are efficient and economic costs kept down," minister Salman Khurshid stressed at a press briefing on the contentious grain storage subject here. The Centre's food subsidy bill projections for this fiscal is an estimated Rs 83,000 crore to Rs one lakh crore. Why the change in stance on exports, especially since the government has put off the sensitive decision for months despite a Central grain stock exceeding 65mt, citing food law needs assessment? "We're now fairly clear on how much we will need for the food law, an average 62-65mt.," minister Thomas said. More importantly, there are clear indications that the food law, even if approved, may be implemented for less than six months, entailing far less than annual estimate of offtake by states. That has opened up possibilities for export further. Currently, Central procurement is around 29% of the total grain production. Once the food law is implemented, that is likely to go up close to 40%. But concerns over food inflation, now around 9%, besides the proposed food have stayed the government's hand so far. Significantly, the parent ministry is now preparing a draft report to submit to the relevant minister panel. The report, to be finalised within the week, will reconcile the draft food law recommndations of the NAC__recetnly cleared_ and the suggestions of the EAC. Interestingly, the draft food law has designated the mother as the head of the family primarily in order to ascertain that neither grain nor cash, should it subsitute grain in any part, is siphoned off for other uses apart from meeting the bare necessities of the family unit. On the issue of inflationary impact of the food law on open market grain prices, Mr Thomas said "Some apprehensions have been expressed by experts and government is cognizant of the possibility. The food law is meant to guarantee essentials to the neediest in the country during times of high food prices and inflation and we as government and Congress party are committed to fulfill our poll promise on this. So we have worked out several antidote measures should inflationary pressures start showing up significantly in the open market." India, one of the world's biggest producers and consumers of wheat and rice, has kept a tight control over grain exports since 2007, allowing only overseas sales of aromatic basmati rice, to ensure it can provide cheap food grains to the poor. More recently, the Centre allowed a capped quantity of select rice varieties such as Ponni and Rose Matta besides Sona Masoori for exports but the quota has yet to be used up. According to ministry sources, that is because inferior varieties are being exported, leaving better varieties for the home marekt where grain prices are firm. Farm minister Sharad Pawar has been repeatedly calling for opening up farm produce exports including food grains and sugar, especially since stocks are overflowing after three years of bumper harvests and the onset of the monsoon has raised concerns stocks outside could be damaged, adding to pressure for sales.http://economictimes.indiatimes.com/news/economy/foreign-trade/centre-likely-to-open-up-foodgrain-exports/articleshow/9041072.cmsFood ministry says it is not averse to export of wheat or riceTaking a U-turn, Food Minister K V Thomas today said he was not opposed to allowing exports of foodgrains and a decision on the issue will be taken by a panel of ministers at the earliest. The government in early 2007 had banned shipment of wheat and later in April, 2008 restricted exports of non- basmati rice. "We are not averse to export of foodgrains. I do not mind export of some quantity of wheat and rice as there is a bumper production. There are suggestions from state governments and other ministries for exports of 2 million tonnes of wheat and 1 million tonnes of rice," Thomas told reporters, here. An Empowered Group of Ministers (EGoM) on food, headed by Finance Minster Pranab Mukherjee , will take a decision at on allowing export of wheat and rice at the earliest, he said. The minister had said several times that exports could not take place in view of the huge demand of foodgrains under the proposed National Food Security Act. The government is now facing the problem of plenty with granaries overflowing in its godowns. As on June 1, the Food Corporation of India (FCI) has an all-time-high stock of 65.4 million tonnes of wheat and rice. Sources said that the Food Ministry, which fears shortage of space in view of bumper procurement, has already send a proposal on this issue to the Commerce Ministry. Asked whether the government will permit export of grains stored in FCI or from the private trade, Thomas said, "Details are being worked out. The final call will be taken by the EGoM". He, however, said that the export should not lead rise in domestic retail price and benefit should reach to farmers. Wheat procurement by the FCI has touched the record 28 million tonnes in the ongoing 2011-12 rabi marketing season (April-June).30 JUN, 2011, 03.46AM IST, DEVIKA BANERJI & MOINAK MITRA,ET BUREAU National GIS promises to transform governance landscape, make life easierNEW DELHI: India is mapping out its newest national asset, a state-of-the art online information bank, which promises to transform governance, aid planning and make life easier for the man on the street. Called National GIS, this geographical information systempowered service would be the first one-stop database of India's natural and physical assets, providing information and services about government schemes and businesses -- right from locating malls, hospitals or ATMs to lodging complaints. The locational data service, expected to be fully operational in 3 years, would be accorded the status of a national asset and can accessed through desktops or mobiles. National GIS, which is expected to help boost productivity and keep a check on wasteful expenditure, will have a "citizen layer" that will make it possible for individuals to geographically tag complaints and grievances on a real-time basis that will be accessible to users across three levels--government, businesses and citizens. It will also link individuals with UID numbers to their geographical location. The project is the brainchild of the Planning Commission, which has set up a 12-member core group to work out the organizational structure, technological base, costs and user interface of the database. "In order to make GIS database a national asset, we need a proper administrative setup. The aim right now will be to aid planning and the 12th Plan will broadly make use of such a system," a senior official with the Planning Commission told ET. Although GIS services are being provided both by the government and the private sector, they are not standardized or even accurate. It is the first time the government is dealing with the standardization of GIS, which has been available in the US since the 1980s. "If assets are standardized, governance becomes easy. The committee's role is to lay the standards for GIS, such as the accuracy of the road network; stopping PDS pilferage by ensuring vehicles actually deliver to fair price shops; property taxes can be accurately collected since people tend to under-report; consumer indexing of electrical utilities to overlay the user and the power network on the digital map; health and education system rollout, besides others," says Rakesh Verma, managing director of MapmyIndia and member of the core group. MapmyIndia is a leading player in digital map data and consumer navigation services. In its initial draft, the core group has envisioned a digital map with geo-tagged spatial data--containing 36 broad categories--that can currently be sourced from various government and private databases. The government already has a sizeable resource of multi-resolution satellite images and topographical and thematic maps. There are also GIS initiatives of the Natural Resources Management System , National Spatial Data Infrastructure and National Urban Information Systems . However, none of these are integrated with each other, making it impossible for one government agency to use information of another while alienating private stakeholders altogether. "The information we have is not standardized. I have information of water resources but I cannot use that of land. If it's standardized, then it's of more use and it also accords a greater sense of accountability," a water resources ministry official said. http://economictimes.indiatimes.com/news/economy/policy/national-gis-promises-to-transform-governance-landscape-make-life-easier/articleshow/9045387.cmsPM blames BJP for delay in GST rollout Prime Minister Manmohan Singh has said that tax reforms such as GST rollout , hiking quantum of FDI in the insurance sector and FDI in retail are priority reform areas for his government. Singh, who blamed the BJP for the slow progress on the GST rollout, said the main Opposition was "playing politics" over the issue. "They do not want the government to pass this landmark legislation. We had helped the BJP pass the first insurance Bill. All we want now is to increase the share of FDI to 49%. The bill is in Parliament. I hope we can still persuade the Opposition and other parties to pass the bill," Singh said. He also said the funds required for the insurance sector can come only by hiking the FDI ceiling. "Domestic industrialists don't have that large capital base. They need that support," he said. Singh, who favoured FDI in retail, said it was question of supplychains and distribution of food supply. "This is where the question of FDI in retail comes in. There is a big debate about it in government and Parliament. There is fear of small traders, but without breaking such institutional barriers, there is fear of food inflation. I am hoping we can make a beginning soon," Singh said. Singh also had some reassuring words for the industrial leaders who are worried over excessive policing by the state agencies. "If I go by the newspapers everyday, I would have to refer everything to the CBI, and the CBI would sit in judgement. And if we continued in this vein, our public sector would not be able to perform. It would greatly weaken the entrepreneurial forces that we have unleashed, and willy-nilly install a police raj," he said. Singh, during the interaction with editors also gave vent to his irritation with the CAG's activism. Responding to the audit watchdog's report on the KG Basin, Singh said he was not aware of its findings. He was critical of the CAG for going public with its assessments. "It is never been in the past that the CAG has held a press conference - as the present CAG has done. Never in the past has the CAG decided to comment on a policy issue. It should limit the office to the role defined in the Constitution," the PM said.Land acquisition, insurance top reform agenda, says Manmohan SinghThe PM on Wednesday flagged amendments to the land acquisition law, allowing more foreign investment in retail trading and insurance and introduction of good and services tax (GST) as the government's key reforms agenda. "I think the first thing is to sustain the momentum of growth that we have built," Manmohan Singh told editors . But a key theme underlying Singh's reforms plan was support from the Opposition , especially BJP. He accused BJP of playing politics with GST. "There are other (reform) issues also... the BJP is clearly playing politics , they do not want the government to pass this landmark legislation (GST)." But if he blamed BJP for blocking GST , he almost tried to use an IOU to seek its support for increasing the foreign investment ceiling for insurance from 26% to 49%. The Insurance Bill is being reviewed by the parliamentary standing committee headed by Yashwant Sinha and indications are that the panel might not support the move. In case of retail, where a proposal to allow global chains to enter Indian is awaiting government nod, he sought to push the case for allowing foreign investment arguing it would help improve supply chains and food distribution. He tried to calm frayed nerves of small traders who fear they might go out of business. "There is fear of small traders, but without breaking such institutional barriers, there is fear of food inflation. I am hoping we can make a beginning in these areas." FDI apart, management of scarce natural resources, especially land, and checking leakages in the subsidy mechanism appeared to be top of his mind. Retains his 'green cover' Union environment minsiter Jairam Ramesh is reversing several of his decisions under pressure from him, PM Manmohan Singh accepted in his interaction with the editors. When quizzed further if he was pressuring Ramesh, Singh took an oblique way out saying, "Gandhi said, poverty is the biggest polluter, we need to have balance." US strongly supports NSG clean waiver for India: RoemerThe United States today said it "strongly and vehemently" supports the NSG clean waiver for India and hoped that the civil nuclear deal between the two countries will continue to move in a positive direction. "I want to say that the US and the Obama Administration strongly and vehemently support the clean waiver for India. The 123 civil nuclear legislation also underscores our support for India in this debate that is going on and our law also points to the clean waiver for India," US Ambassador to India Timothy J Roemer told reporters here. On his last day in office here, the US envoy was asked about the American support for India to get the clean waiver from the Nuclear Supplier's Group. The 46-member Nuclear Suppliers Group (NSG), the elite nuclear club, last week decided to push for more stringent norms that govern technology transfer for reprocessing technology. This decision has raised concerns about its impact on the landmark civil nuclear deal India signed with the US. "With India's commitment and as they look to ratify the Convention on Supplementary Compensation for Nuclear Damage (CSC) and they work closely with the US companies, I am hopeful that the civil nuclear agreement will continue to move in a positive direction," he added. There have been indications that India was in touch with NSG and that the recent decision will not adversely impact the India-specific agreement with NSG.India's US-brokered exemption from nuclear technology trade rules is secure, the US ambassador to the country said on Thursday, easing worries that new global regulations would harm New Delhi's rapidly-growing nuclear programme. The global Nuclear Suppliers Group (NSG) tightened rules on the trade of sensitive technology last week, sparking fears that Asia's third largest economy's nuclear ambitions, key to meet a soaring energy demand, would be hit. "The White House and the Obama administration strongly and vehemently support the clean waiver for India," outgoing US ambassador Timothy Roemer told reporters after a speech to mark his departure from the post. "Secondly the [Section] 123 civil nuclear legislation also underscores our support for India in this debate that is going on. And thirdly our law clearly points to the clean waiver for India," Roemer added. Washington sealed a nuclear supply deal with India in 2008 to give Asia's third-largest economy access to technology and fuel without forcing the country to open up its nuclear sites to international watchdogs, as the NSG guidelines stipulate. The landmark civilian nuclear cooperation agreement ended India's atomic isolation following its 1974 nuclear weapons test and could mean billions of dollars in business for US firms. India has refused to sign the 189-nation nuclear Non-Proliferation Treaty, a cornerstone of global disarmament efforts and a pre-requisite under the new NSG rules for acquiring uranium enrichment or spent fuel reprocessing technology, which has both civilian and military applications. India has so far not commented on the revised NSG guidelines, which are yet to be made public and were adopted at a meeting last week after years of discussion. India aims to lift its nuclear capacity to more than 20,000 MW by 2020 and 63,000 MW by 2032 from under 5,000 MW today by adding nearly 30 reactors. The country suffers from a peak-hour power deficit of about 12 per cent that acts as a brake on an economy growing at nearly 9 per cent and causes blackouts in much of the country. About 40 per cent of Indians, or 500 million people, lack electricity. Roemer, who has worked in New Delhi since August 2009 after being appointed by President Obama, resigned from his post in April citing personal commitments.India to launch communication satellite July 15CHENNAI: India's Polar Satellite Launch Vehicle (PSLV) rocket will blast off July 15 evening carrying a communication satellite with transponders for communication and weather forceast services, the space agency said Thursday. Preparations for the launch of GSAT-12 are progressing well at the Satish Dhawan Space Centre in Sriharikota, around 80 km from Chennai, the Indian Space Research Organisation (ISRO) said in a statement Thursday. The GSAT-12 satellite weighs 1,410 kg at lift-off has 12 extended c-band transponders - automatic receivers and transmitters for communication and broadcast of signals. The satellite is expected to serve the Very Small Aperture Terminal ( VSAT )) sector, which transmits data like point of sale transactions or to provide satellite internet access and others. ISRO said the satellite has undergone necessary tests at Sriharikota and it has been filled with propellants June 28. GSAT-12 will be integrated with the rocket July 3 after the clearance from the Launch Authorisation Board. According to ISRO, the four stages/engines of the rocket has been fully assembled and tests are being conducted to check the electrical systems. As to the sequence prior to the launch, ISRO said the rocket loaded with the satellite will be moved to the second launch pad July 10. On July 13, the 52.5 hour countdown for the launch is expected to start. The actual lift of the rocket is expected to be between 4.48 pm and 5.08 pm July 15. Though PSLV rockets are largely used by ISRO to launch remote sensing/earth observation satellites, it has also been used to put into orbit communication satellites in geo-transfer orbit (GTO). According to ISRO officials, the PSLV rocket that will carry GSAT-12 will weigh over 300 tonne-higher than the standard PSLV rocket that weigh around 290 tonne at lift off.India's Apr-May fiscal deficit at $29.2 billion: Govtndia's fiscal deficit from April to May was 1.31 trillion rupees ($29.2 billion), or 31.7 percent of the full-year target, the government said in a statement on Thursday. Net tax receipts were 231.03 billion rupees and total expenditure was 1.66 trillion rupees for the first two months of the 2011/12 fiscal year. In February 2011, the government had forecast a fiscal deficit of 4.13 trillion rupees, or 4.6 percent of gross domestic product, for the current financial year.11 JUN, 2011, 12.44PM IST, PARTHA SINHA & SHUBHAM MUKHERJEE,TNN SEBI plans changes to IPO, secondary market trading rulesMUMBAI: Market regulator SEBI is planning a series of changes to the existing demat, IPO and secondary market trading rules in a bid to ensure greater participation of retail investors in the stock markets. This includes overhauling the know your client (KYC) process to make it simpler for investors, simplifying the demat account opening procedure and modifing IPO forms and the information provided by companies in a bid to make them easier for the common man to understand. It will make the stock markets a safer place and at the same time make the whole process of investing smoother, SEBI chairman, U K Sinha, told TOI in an interview. Separate committees have already been formed to work on these initiatives . "We have been able to identify a number of irritants (for the investors). And we will spend the next few months in removing those irritants," Sinha said. However, the changes being planned will in no way be at the cost of diluting the anti-money laundering rules and the policies of Financial Action Task Force (FATF), an international body that aims to combat terrorist financing, Sinha said. On the overhaul of the Know Your Client process, he underlined the need for streamlining the procedure as often different market related agencies have different standards . The KYC process aims to identify each investor and helps the regulator and other market intermediaries track down each and every marketrelated transaction from initiation to completion. It has been observed that different market-related agencies have different KYC standards, often leading to duplicity and inconvenience for investors, he said. Now the endeavour on the part of SEBI is to streamline the whole KYC process, standardize it but allow one or two or even three registration authorities to offer the uniform KYC system to all investors in the stock market. "The next thing we are going to do is to have not only a uniform standard but a common and inter-operable KYC," Sinha said. Which means if an investor has done his KYC at any of the SEBI authorized place that will be valid at each and every point of the market, like depository, mutual fund, brokers etc. "The new regime will be 100% compliant with Prevention of Money Laundering Act (PMLA), with its rules and with FATF of which India is a full member. The idea is to make it a standard but simple" he said. It has not been decided yet but a public sector body or companies from the private sector could be roped in for providing this standardized service, he said. The regulator is also working to simplify the demat account opening process. Currently , while opening a demat account, an investor has to fill up a booklet which is over 50 pages and has to sign more than 50 times. "We are working to simplify the form," Sinha said. Besides, SEBI also believes that the IPO forms and the information given to investors in the form of disclosures are too voluminous and it does not communicate anything significant . "Investors usually want to know at what price an IPO is offered and compare it to its peers, what multiple is it as per its known earnings, and at the same time what is the sectoral ratio etc" . Sinha believes such useful information are either not there or are lost in the voluminous offer documents. SEBI has also found that often investors would like to know about the past track record of the merchant bankers who are bringing an issue to the market. Such information seems to be necessary for ordinary investors and hence would be made available to retail investors once the IPO rules are changed. "These are much more important information than these 150-200 pages of information that we are giving," the SEBI chairman said. "We have set up a group and I'm hopeful that very soon we will be able to modify these forms. The whole idea is to provide relevant information and disclosure to the investor in a manner that he can understand ," he added.http://economictimes.indiatimes.com/markets/regulation/SEBI-plans-changes-to-IPO-secondary-market-trading-rules/articleshow/8810761.cms12 JUN, 2011, 04.52AM IST,ET BUREAU Commodity futures market regulator's fate in limboMUMBAI: A bill that empowers the commodity futures market regulator is likely to be introduced in Parliament only during the winter session, marking another delay in a legislation crucial for the development of the eight-year-old commodity futures market. The Parliamentary Committee on Consumer Affairs, Food & Public Distribution, which is examining the Forward Contracts Regulation Act Amendment Bill of 2010, is expected to convene once more before tabling its report (on the bill) during the monsoon session of parliament. The bill is expected to be tabled during the winter session after the government goes through the committee's proposals. "We understand that the standing committee proposes to take one more meeting.....they have had intensive interactions with stakeholder groups," said BC Khatua, chairman, Forward Markets Commission on Friday. "We now hope that instead of the monsoon session we will now have the bill in parliament in the winter session." The bill in its present form has been hanging fire since 2006 and Khatua has tried hard to convince policymakers to push through the bill since he took over as FMC chairman in 2008. Apart from an ordinance being promulgated briefly in the same year, his efforts have not borne fruit. Passage of the bill has been the most important item on the FMC's agenda, with Khatua getting a one-year extension last July primarily to steer the commission from being a department-related entity to an autonomous regulator like Sebi. The bill paves the way for introduction of options in commodities -only futures trading takes place now - and facilitates the entry of institutions like banks and mutual funds once FMC is allowed to raise its own corpus by charging fees from exchanges, like Sebi, and recruiting more professionals to strengthen its regulatory powers.http://economictimes.indiatimes.com/markets/regulation/commodity-futures-market-regulators-fate-in-limbo/articleshow/8820333.cmsRapid Indian economic growth poses no threat to US: Timothy GeithnerWASHINGTON: Asserting that the most rapidly growing companies in the US are those that benefit from growing exports to India, treasury secretary Timothy Geithner on Monday said India's economic expansion does not threaten the US and is helping the American economy's recovery. "The most rapidly growing companies in the US are those who are able to benefit from their export growths in India and other parts of the world," the treasury secretary said in his address to the 'US-India Economic and Financial Partnership' conference jointly organised by the Confederation of Indian Industry (CII) and Brookings Institute, a Washington-based think-tank. "Our export growth has been very strong in early years of recovery. If you look across agriculture, technology manufacturing -- the most resilience, most dynamic part of the American economy are those who are most exposed to the opportunities received in India and emerging economies," Geithner said. "I think by explaining to people that by that export growth, you see more jobs, more income and growth, you can help demonstrate to the American people why we have such a strong stake in America's relationship with India," he said. "Growth in India is with the United States, there is no threat to the United States," he said, adding that the US benefit greatly from the sheer talent and skills of Indian companies and personnel operating in the United States today. "If you point people to the tangible benefit that comes from more export options, more jobs, the more the helpful," the Treasury Secretary said, adding that for the US to be successful in future, it needs to see a growth strategy more driven by investment and export.India a role model for balanced global growth:USWASHINGTON: India over the years has emerged as a role model for balanced economic growth for countries across the world, US Treasury Secretary Timothy Geithner said on Tuesday. "India in some ways is the model for how to produce broad-based economic growth, with a balanced growth in an equitable free market system," Geithner said addressing a meeting of India and American corporate leaders, policy makers and think-tank members at a conference on the 'US-India Economic and Financial Partnership' jointly organised by the Confederation of Indian Industry (CII) and Brookings Institute, a Washington-based think-tank. On Tuesday, Geithner will lead a high-powered US delegation for discussions on the second India-US Economic and Financial Partnership being held at the Treasury. Finance Minister Pranab Mukherjee arrived in Washington on Monday morning leading an Indian delegation to attend what is being billed as the highest level economic meeting between the two countries. "... India plays such an important role in the G-20 process, where we are trying to bring major emerging market economies together on things that are good for growth," Geithner said. "We work very close together in all the major international economic and financial fora... where India is playing a very important role," said the US Treasury Secretary, adding that the US and India are looking to build a strategic economic relationship. "We have identified bunch of areas. We have very productive technical working exchanges underway like debt management, how to build a more effective (anti-) money laundering regime to areas like infrastructure finances," he said.Lagarde suited to head IMF; India voted for her: PranabWASHINGTON: French Finance Minister Christine Lagarde is "eminently suited" to head the International Monetary Fund (IMF) and India voted for her, Union Finance Minister Pranab Mukherjee said here today. "We all along maintained that we will be part of consensus building, (and) candidate should be chosen on the basis of merit. She is eminently suited," Mukherjee said in response to a question at a media round table at the end of his 3-day trip to Washington. "The IMF selection process was transparent. India has voted for her," he added. In a message to Lagarde, Mukherjee congratulated her on her new position and said India is looking forward to working with her. The Executive Board of IMF today selected Lagarde to serve as IMF MD and Madame Chairman of the Executive Board for a five-year term, starting on July 5. Earlier in the day, at a joint news conference with US Treasury Secretary Timothy Geithner, Mukherjee pointed out that during the election process, India had insisted that the IMF MD should be selected through a transparent mechanism, not specific to any region or any particular nation. "On the basis of that, we also suggested that we would like to be a part of the consensus, which should be evolved," he said. Mukherjee, who left for India via New York this afternoon, was here leading a high-powered Indian delegation for the second India-US Economic and Financial Partnership.IMF policies leading to foreign control of Asian countriesOne of the greatest fears of a country that is forced to seek IMF assistance is that the policy conditions that come with such loans would spell the end of that nation's economic sovereignty. These fears are already becoming a reality in Thailand and South Korea, where conditions attached to their IMF loans have led to policy changes that pave the way for foreign institutions to take over the domestic financial sector as well as other parts of their economies. Foreign banks and companies are already going through the wreckage of these economies and beginning to pick up local assets and institutions at bargain prices.by Martin KhorPENANG: One of the major criticisms of the recent rescue packages of the International Monetary Fund (IMF) in Asian countries is that they would end the economic sovereignty of the countries having to seek its assistance.These nations would no longer direct or control their own economic or social policies. In particular, policy conditions tied to IMF loans would pave the way to foreign ownership and domination of the economy, especially in the financial sector.One of the most outspoken critics of the IMF, Malaysian Prime Minister, Dr Mahathir Mohamad, recently warned that powerful nations had been given the opportunity of the present financial problems to force open the economies of East Asian developing countries and to possibly dominate them. He mentioned in particular, that the IMF conditions would include policy changes to enable large foreign banks to take over the financial sector.These predictions are already coming true.The IMF has imposed on Thailand and South Korea, the condition that they must allow higher foreign ownership of their economy, especially in the financial sector. According to domestic and international media reports, the market access conditions were believed to be placed in the IMF package (at least, for South Korea) at the insistence of the United States.This, in fact, was strategically the most crucial of the IMF conditions, which was also an "extra bonus", outside of the IMF's normal macro-economic conditions (such as raising interest rates, reductions in government expenditure, economic growth and the current account deficit).As part of its deal with the IMF, Thailand was asked to allow foreign banks to own more equity in the local banking sector.In October, the government announced it would allow foreign institutions to hold a majority stake in operating financial institutions for up to ten years, after which any further capital increases would have to be sold to local investors, if the foreign share is more than 49%. (Bangkok Post, 12 November 1997).Foreign banks seeking to take over local financial institutionsThis opened the door for foreign banks to take advantage of the present situation and quickly raise their share of the banking business. The local Thai banks are reeling from overdue loans and many are suffering from a weak capital base. Foreign banks are now swooping in to take over the local banks, taking advantage of the latter's present vulnerable situation.According to the Wall Street Journal (5-6 December 1997), the restructuring of Thailand's financial system "is expected to result in foreign majority ownership in many of the country's 15 commercial banks."On 26 November, the American financial institution, Citibank signed a memorandum of understanding with First Bangkok City Bank and said it planned to buy a stake of at least 50.1%, although the price was not yet fixed.This was the first salvo. According to the International Herald Tribune (6-7 December 1997): "Meanwhile, word is emerging almost daily of foreign concerns that want to buy finance companies or banks." The foreign companies mentioned are American International Group Inc., Development Bank of Singapore, Credit Suisse First Boston and Westdeutsche Landesbank Girozentrale.All but two of the 58 troubled finance companies have been closed by the government. One of the survivors, Bangkok Investment Co. has proposed being 80% acquired by the American International Assurance subsidiary, AIG Consumer Finance Group. (Asian Wall Street Journal, 9 December 1997).The latest news is that the Development Bank of Singapore, together with two other Singapore-owned companies, is taking over a majority share in one of the local Thai banks.In South Korea, the IMF also forced the government to allow foreigners to have a larger share of the Korean economy, which had till then been relatively protected.According to a Reuters report (5 December 1997) on the IMF terms: "Foreign investment in the capital markets will be liberalised and direct foreign investment procedures will be simplified and made more transparent. Foreign entities will be allowed to buy 50% of the equity of a listed Korean company by end-1997 and 55% by end-1998, paving the way for foreign takeovers of Korean firms. Foreign banks could be allowed to form joint ventures and set up subsidiaries."Before the IMF deal, the shareholding limit for foreign individuals was 7% in a specific Korean company stock, while the combined foreign shareholding limit was 26% in a stock. On 11 December, the ceiling on a combined or individual basis was raised to 50%.Potential winners are foreign financial firmsAccording to the Asian Wall Street Journal (9 December 1997), US businesses are now scrutinising opportunities created by the IMF measures, which would "open South Korea's financial sector and allow greater foreign ownership of South Korean companies." The biggest potential winners are financial firms, including commercial banks and brokerage houses. "For these companies, the bailout means short-term advisory business and long-term investment opportunities, and expansion of existing operations and investment in Korean firms."The report adds: "The IMF is also pushing South Korea to accelerate the schedule for allowing foreign entry into the domestic financial sector, including allowing foreign banks to establish subsidiaries and brokerage houses by mid-1998. The IMF also wants South Korea to remove restrictions on foreign companies' access to domestic money-market instruments and the corporate-bond market. One US banker described the long-term impact of such measures as a "sea change" that could leave US and other non-Korean foreign firms dominating the financial services scene in Korea in a few years, as they have come to do in Japan in recent years."Another IMF condition is that South Korea must allow Japanese products, greater access to its market. Previously, imports of Japanese goods had been restricted because of Japan's large trade surplus with South Korea.It was also reported that the conditions forcing South Korea to give greater ownership access to foreign companies and more trade access for Japanese goods were injected into the IMF package at the insistence of the US and Japan.What the US and Japan could not achieve through bilateral pressures on South Korea (the US, for instance, has been threatening to use its Super 301 trade sanctions to allow its firms greater ease to enter the country), or through negotiations in the World Trade Organisation, they have been able to do in South Korea's moment of weakness and its need for the IMF.The US is the country which has by far, the largest influence on IMF Secretariat policies. Also, the pledges of US$5 billion by the US and US$10 billion by Japan to the total US$55 billion rescue package gave the two countries the handle with which they could shape IMF conditions.The South Korean media has criticised how US and Japan used the financial crisis as leverage to force Seoul to open its markets."A senior US treasury official...backhandedly manipulated IMF negotiators to push for market opening...while Japan used financial aid as a weapon to prop open the domestic market for their goods," according to an editorial in Dong Ah Ilbo, a big newspaper. "It is highly likely that our economy will be a playground for a handful of international fund managers."More pressure on South Korea to liberalize its financial sectorThe most recent development is that South Korea has again been pressurised to agree to a new package of even more onerous terms of reforms to liberalise its capital markets and to allow complete foreign ownership and participation of its corporate sectors.Throughout December, the country's currency and stock market faced a continuous slide. With foreign reserves tumbling, the government made desperate attempts to get the IMF, the US and Japan to release more of the US$55 billion loan package, in order to prevent the country having to declare a default or debt moratorium.However, the US refused the requests on the grounds that the reforms already agreed to were not being implemented well enough. With the presidential elections producing a new President-elect in Mr. Kim Dae-Jung, a senior US official began to negotiate with him on the terms of reform.Finally, on 25 December, as the financial situation turned even more grave, the Korean government, the IMF and the US Treasury were able to announce that $10 billion of the $55 billion package would be released to South Korea in the next few weeks, including parts of the funds that had been pledged by the IMF, the US, Japan and many other rich nations.According to news reports, the acceleration of the funds release came with a heavy price, with South Korea having to agree to faster and deeper "policy reforms." The rich countries were able to extract even greater concessions on behalf of their corporations to have greater access to South Korea.Some new concessions made by South KoreaFrom media reports, the new concessions include the following:

Korea agreed to abolish nearly all restrictions on foreign investments in its financial markets and banking sector. Foreign banks and brokerage houses can establish full operations from March 1998.

Korea agreed to allow foreign investors to acquire 55% of listed companies from 30 December and 100% by the end of 1998. (This compares to 26% before, rising to 50% in mid-December and 55% at end-1998, agreed to less than a month previously).

The bond market will be fully opened by the end of 1998.

South Korea is also required to repeal its interest rate ceiling of 40% in two months, decide how to treat insolvent financial institutions within five months, reform labour laws and permit sacking of workers in corporate takeovers.

According to the Financial Times (2-28 December 1997): "The full opening of the capital markets will pave the way for foreign takeovers of Korean companies and increase foreign competition in the financial sector, heralding the end of the nation's protectionist economy."In Thailand, meanwhile, the American Chamber of Commerce is pressing the government to open up the economy further to foreign firms. On 2 December, it called for additional financial liberalisation, lifting of all restrictions on foreign ownership of assets and participation in the services sector and tariff cuts.It would not be surprising if further loans to the IMF client countries would come with more conditions promoting the foreign firms' access.These recent developments in the countries undergoing IMF- imposed conditions are a lesson for other countries, for they give a clear picture of what could happen if the latter were also to fall under the IMF's spell. (Third World Economics No.176, 1-15 January 1998)Martin Khor is the Director of Third World Network.http://www.twnside.org.sg/title/cont-cn.htm

WTO, IMF and World Bank: UN or US?

Summary: Should the global economic institutions come under UN control and thereby reduce US influence over them?

Much of the recent anti-globalisation protest has focused around the issue of Third World debt and hence the global financial institutions – the International Monetary Fund (IMF) and the World Bank (WB). Attention has been drawn to US involvement with these institutions, particularly after the controversial nomination and appointment of Paul Wolfowitz as director of the World Bank. Many believe that only by opening these institutions to global scrutiny and control can they really be harnessed to achieve the Millennium Development goals and the wider alleviation of poverty.

Arguments

Pros

Cons

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Decisions at the IMF and World Bank reflect the views of shareholders and not the wider population at large. This is because votes are allocated by financial contribution, meaning the USA has the largest voting share of 17% and that Developed countries have 37% of the overall vote. This allows them to exercise more sway in the decision making, for example, by convention the US may nominated the President of the World Bank while Europe nominates the Director of the IMF. These decision-making practices exclude the less developed countries who are the main customers of the institutions. If they operated under United Nations control decisions would be more representative.

At heart both the IMF and World Bank are capitalistic enterprises. They operate to smooth the operation of global trade and provide returns on the capital that the U.S. and other contributors have provided; they do not aim to be democratic. On the other hand the U.N. already raises funds to donate to development projects, on a purely charitable basis. Merging the two institutions would bring their differing ideals into conflict and cause neither to function as efficiently as it currently does.

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United States dominance leads to too much caution over lending decisions. As the US wishes to safeguard its capital so it puts strict conditions on loans and refuses to lend to some of the world's poorest countries. The UN would use more humanitarian conditions in assessing loans, leading to more money reaching poor countries.

If the UN were to over see a loosening of loan conditions it would create a problem of moral hazard. This is when loans are offered to countries even when they will not be able to pay them back. Such a situation would encourage poor countries to take on unsustainable debt thereby worsening rather than improving poverty in these countries. US influence as the leading shareholder ensures that proper economic criteria are applied in assessing loan applications.

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Bringing the IMF and World Bank under UN control and reducing the US stock would create a diversified portfolio of shareholders. This would give poorer countries more of a stake in the management of the bank, not just its loans.

Poorer countries are unlikely to be able to raise as much capital to invest in the IMF and World Bank as America can. Many countries already have small stakes in the bank and could increase them if they wanted to, they just can't afford to. Excluding American capital would simply reduce the amount of money in the system, thereby limiting the amount that can be lent to poor countries.

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The IMF and World Bank are often criticised for responding too much to global market opinions rather than listening to the needs of world governments. The UN is less influenced by big business than the USA and therefore will ensure the IMF and World Bank remain true to their mandate.

UN control will reduce market confidence in bank pronouncements. Currently, World Bank lending decisions act as a 'gold standard' of financial stability, encouraging (much larger amounts of) foreign investment to flow in its wake. If these decisions are no longer perceived as economically based, but increasingly politically motivated, then companies will no longer use them to guide investment decisions. If in doubt, they are unlikely to invest at all in developing countries.

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If the decision making process at the IMF and World Bank is more inclusive, it will dispel the image that the institutions serve American foreign policy aims. This will help IMF and World Bank policies to be more successful as they will be perceived with less hostility by the countries they must work with.

Involving more parties in the decision making process is only likely to increase division (look at the General Assembly of the UN). Division prevents the implementation of strong and cohesive policy and could prevent the IMF and World Bank from fulfilling the responsibilities given to them.

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If the ownership of the IMF and World Bank changes, there is the potential to change and extend their areas of responsibility. If the UN was in charge, the possibility for wide-ranging reform could increase, allowing the institutions to refocus on the development agenda.

Placing the IMF and World Bank at the centre of development efforts would entrench the position of loans rather than aid. Many people believe loans have done more harm than good to development efforts and no amount of reform could help to solve this fundamental problem.

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Motions

This House would place the IMF and World Bank under UN controlThis House believes that the US should relax its control over the IMF and World BankInternational Financial Institutions should operate under United Nations jurisdiction and should have a diminished United States presence.

Geithner May Back Lagarde at IMF (Bloomberg)

CGD Experts

Jun 6, 2011Nancy Birdsall was quoted in a Bloomberg article about selecting the new leader of the IMF.From the articleU.S. Treasury Secretary Timothy F. Geithner says France's Christine Lagarde and Mexico's Agustin Carstens are both qualified to run the International Monetary Fund. He may have little choice but to support Lagarde.Under an unwritten agreement that dates back to the end of World War II, the IMF has always been led by a European while the World Bank has been headed by an American. Backing a non- European for the IMF could mean relinquishing U.S. control of the World Bank -- an outcome members of Congress who decide on funding for development banks are not ready to contemplate."For the sake of influencing policy and lending, as well as maintaining congressional support, it is very important that the World Bank continue to be led by an American," Representative Nita Lowey of New York, the top Democrat on the House Appropriations Committee panel that oversees foreign-aid spending, said in an e-mail. Congress has yet to approve the Treasury Department's $3.4 billion international aid budget for next year, which includes funding for the World Bank."We would like to see the U.S. continue to play and have a leadership role in these institutions," Representative Robert Dold, an Illinois Republican and vice chairman of the Financial Services Committee panel that oversees development banks, said in an interview.The World Bank, headed by former U.S. Trade Representative Robert Zoellick, finances projects in developing nations, including $1.5 billion in loans to help improve India's rural roads last year. The IMF provides emergency loans to countries in financial distress, committing about $105 billion in aid to Portugal, Greece and Ireland. The U.S. also controls the No. 2 job at the IMF, now held by John Lipsky, a former JPMorgan Chase & Co. executive.

'Very Talented'

Geithner on May 25 said Lagarde, the French finance minister, and Mexican central bank Governor Carstens are both "very talented" candidates to replace Dominique Strauss-Kahn at the IMF. He also said the U.S., the fund's largest shareholder with 17 percent, will play a "significant" role in choosing a successor to Strauss-Kahn, who resigned after his arrest on charges of attempted rape and sexual assault.Strauss-Kahn pleaded not guilty to all seven charges today in Manhattan before New York State Supreme Court Justice Michael Obus. Obus scheduled the next hearing for July 18."Congress is certainly watching this election process very closely," Tim Adams, a former Treasury undersecretary and now managing director at the Lindsey Group, an investment consulting firm based in Fairfax, Virginia, said in an interview. "They will want to ensure that the U.S. representation at both the fund and the bank remain at its current levels."Lipsky's position will also be up for grabs when his term as first deputy managing director ends in August, and the U.S. will probably get a guarantee from Europeans to keep the No. 2 post if Lagarde gets the top job, said Nancy Birdsall, president of the Washington-based Center for Global Development, an aid research group.http://www.cgdev.org/content/article/detail/1425177/What is wrong with this world? Why all those civil wars, why all this chaos and disaster? Why can't people just live together in peace? When conflicts arise, why is it so hard for the United Nations and other parties to stop the killing, despite peace negotiators and ambassadors?

Is it that man is basically evil? Is it just human behavior? Lots of questions. When we look around, it may seem like man is basically evil, but that is not true. There is good and evil within us all; it needs to be there for our basic survival, and they are subjective terms in the sense that we can define good and evil in whatever way we want. What's good for one person, may be considered evil by another and vice versa. However, the society will eventually reflect the minds of their leaders, and if the leaders are implementing what the majority perceives as evil, the society will be evil as well, and people affected by a malevolent government will start acting like them. However, WE are the ones who appoint and accept our leaders, so ultimately the responsibility is yours and mine.

All this chaos, genocide, ethnic cleansing and the overall disasters have a genuine purpose. It is all very carefully planned by a few people, mostly men, behind the scenes, high up in the society, above any power structure that the ordinary citizen is aware of. It is a modern extension of an old theme to "take over the world". To those people, power, control and wealth is their true religion and they use any means they can to maintain their power and control, including murder and genocide.

These people on top, who basically are of Royal Bloodlines, is currently working on reducing the world population in order to easier maintain their control, and ultimately the strive towards a centralization of power, which will include the whole world.

This is a very old plan; something the same bloodlines have been working towards for millennia. However, now is the time when they have the means to accomplish their goal and fulfill the "Work of the Ages". They see us citizens as inferior and are dehumanizing us in their own minds to the extent that they don't care if we live or if we die. In a future Global Society, if they manage to accomplish this to its full extent, you and I will be no more than slaves, whom they can kill and treat as they want anytime they want.

Many people call this the New World Order, but it is really an Old World Order which is now about to be fully accomplished, unless we do something about it.

As I will show on this website, we are already mind controlled, deceived and slaves to these super-rich families, most of us without even noticing it, but the future they have at hands for us will be much worse...

I recommend that you continue reading from this website, and I am sure this body of information will blow your mind. Things you have been wondering about, that never made sense, will all of a sudden fall into place. On a gradient scale, you will start getting the full picture. You will become very aware of what is happening in the world and why and you will be able to see for yourself, as time goes, how things are unfolding and you will understand why certain things are happening.

Take one or a few pages at the time, because it is much to read, but it is vital for all of our survival to be aware of what this website will reveal. And if you are not familiar with the subject at all, I strongly advise you to start with the link called The Secret Brotherhood,. or click on "Read First" in the left menu on page 2.

Are you voting for the Democrats or the Republicans? Does it really matter which? Is the difference that big?

I will show you that the outcome, no matter whom you vote for, is already thoroughly outlined and predicted; not by the politicians themselves, but by the real powers, the "Shadow Government", invisible to the general public. The political decisions they make are not in our best interest, but in theirs only. The tax money you are paying to your government so they can work on accomplishing our common goals actually go towards accomplishing theirgoals, which are very different from ours. This Power Elite is deeply into the occult and black magic, which I also will show on this website. The rituals are practiced within secret societies, such as the Freemasons and others.

So who are those people I am talking about? They are basically 13 super wealthy families and their off-shots, with the European Nobility on top, and their fellow travelers are the International Bankers. Their bloodlines go back in time - way back to old Babylon and further. They are the same families, but under different names, that have influenced history almost since the beginning of time. It is mind-boggling, but hopefully this website will prove my point without any doubts.

This website has four main categories:

Illuminati News(A thorough research on WHO and WHAT is controlling this world from the shadows, and what their plans are).

Banking sector is growing rapidly with the development of information technology. Introduction of online banking enhance the concept of credit card payment. Mostly banks are providing the facility of merchant card processing. Banks are reluctant to provide debt finance to the people with issues and charging high markup rates. The procedure of general fundraising has become very simple with the introduction of online banking.

- I have noticed that I have had to neglect some things in life that are very important to me and others, while working hour after hour on my website. Therefore I ask you, kind visitor, for a donation, so I can spend the same amount of time, and more, on research, and less time trying to manage my finances. -

- Just like with the term "Illuminati", the "New World Order" is also used by different groups with different agendas, so therefore I need to clarify for people who are new to this which New World Order I am talking about. There are those among us who would welcome a New World Order, because obviously the current Order is not working in our favor. So they think a New World Order is the solution. It doesn't help that certain groups use this term to describe a benevolent future, where the Illuminati I am concentrating on is overthrown and a world of peace will emerge. -

- Not until just recently did I realize were we all went wrong. When I talk of "we all" I mean all researchers and truth seekers digging in trying to expose the "New World Order" and the "Illuminati". It is crucial for everybody reading my website and other similar website to learn what I just learnt, or we are indirectly attacking the wrong group of people! The Illuminati is not trying to create a dictatorship or a slave society. In fact, they are trying to do quite the opposite! -

- From the mystery religions of ancient Egypt to the Zionist role in 9/11, "Ring Of Power" unrevises 4000 years of revisionist human history with never - before - seen revelations. "Ring Of Power" puzzles together the pieces of a giant puzzle into one BIG PICTURE documentary series. -

- There are two common misconceptions held by those who are critical of globalism. The first error is that there is a very small group of people who secretly run the world with all-powerful and unrestrained dictatorial powers. The second error is that there is a large amorphous and secret organization that runs the world. In both cases, the use of the word "they" becomes the culprit for all our troubles, whoever "they" might be. -

Illuminati Document | - I can't guarantee the authenticity of this document, although the context pretty much describes the truth as it is. We don't know when it was written and exactly by whom, but it looks like it was composed by a British person if we look at the spelling of words, which is British English. -

- There is a large number of Jews that gave up the teachings of the Torah and embraced the teachings of the Babylonian Talmud and of the Kabala, which perverted their spirit and acts. They want to dominate the whole world. They pretend to be the only ones the chosen of God, explained Richard Wurmbrand. They believe that their belonging to the Jewish people is sacred. Because the Messiah they were waiting for did not come, they arrived at the theory that the Jews themselves, in their totality, represent the Messiah. Therefore, they refuse to consider their sins, and they prohibit to be criticized or accused of whatever, be it the most justified criticism or accusation, turning the accusation against the accuser, as anti-Semitism, with much propaganda and turmoil in the whole world. -

- Government mind control overlaps with many other things - it overlaps with a higher government and a secret world government called the Illuminati. As I investigated the Illuminati I had to also learn about their front that they operate. They hide behind the veil of National Security. They use our patriotism against us and make us think that for our own interest, for our own security of our own nations, that we have to subject ourselves to all the secrecy that they impose upon us. -

- As we now have it, globalization can be defined as an ideology that identifies the Sovereign Nation-State as its key enemy, basically because the State's main function is (or should be) to prioritize the interests of the Many - i.e., "the People" - over the interests of the Few. Accordingly, the forces of globalization seek to weaken, dissolve and eventually destroy the very foundations of the Nation-State as a basic social institution, in order to replace it with new supra-national worldwide social, political, economic, financial and military management structures. -

- In the 1990s, David Icke appeared on chat shows across the country claiming that he was the son of the Godhead and delivering a message about the dark times that lay ahead. In particular, he claimed that from the turn of the Millennium until 2012, we would see chaos establish itself across the globe as war, economic collapse and terror took hold. Much derived at the time, Icke now has a global following who believe that his prophecies have come true. This documentary asks whether Icke was right. -

- It's like having a huge body of clay, which represent the energy of the One Infinite Creator. This body of clay now wants to experience Itself, so It picks out small pieces of clay from Its main body and put them aside. These small pieces are now separated from It, but still part of It. With these small pieces, galaxies were created. Then small pieces were separated from the sun in the center of each galaxy which became other stars, planets, moons, and eventually other different life forms... You and I are each a tiny piece of "clay" (energy), but still part of this huge body of clay which is the Source, or the One Infinite Creator. So we are Him and He is us... -

- They map death experiences and create synthetic dimensions designed to lure and deter the soul upon its exit...We are all psychic. They [The Illuminati] use synthetic telepathy as this is as close to the real thing they can get. True ascended beings are naturally telepathic. Man once again creates his version and uses the false dialog to sway the masses. I always consider the source of who, and what they are communicating. Is it pure? Genuine? Love based? -

- This is a very interesting video. "The man who tells this story is none other than Mr. Norman Dodd, who in 1954 was the staff director of the Congressional Special Committee to Investigate Tax-exempt Foundations, sometimes referred to as the Reece Committee, in recognition of its chairman, Congressman Carol Reece." He is here interviewed by Ed Griffin back in 1982. Dodd is telling us about his research into the tax-exempt organization and what they REALLY stand for. He shows us that the Carnegie Endowment, the Ford Foundation, the Guggenheim Foundation, and the Rockefeller Foundation joined together to alter American history and take over the whole education system in America, so the children can be indoctrinated into accepting a World Government. -

- In the interview with Greg Szymanski, Svali explains how the Illuminati organization is structured in general. It is of course much, much more complex than this, but she lined out the backbone of it. Therefore, I made an organization chart based on the information she gave. -

- The Assistant Grand Master of UGLE is Lord Northampton, Spencer Douglas David Compton, the 7th Marquis of Northampton (he runs the show and directs the plans to rebuild the Temple of Solomon in Jerusalem) -

- It is becoming increasingly apparent to American citizens that government is no longer being conducted in accordance with the U.S. Constitution, or, within states, according to state constitutions. -

- During his farewell address in the year 1961 outgoing President Dwight D. Eisenhower warned that "In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex [hereinafter MIC]. The potential for the disastrous rise of misplaced power exists and will persist." -

- In this piece I'm going to try and relate a little of the spirit and content of what I believe the so-called "Great Work" of the occultists to be all about. And also look at how this "Holy Grail" of the esoteric traditions may remain relevant to both our day-to-day life and future as a race. -

[I am always careful NOT to release any dates when I think terrorist attacks and other Illuminati events will happen. You don't know exactly to the point what these guys are planning, and if the said event(s) does/do not happen, you may lose your credibility. The dates in the beginning of this article are thus wrong, but please read the rest of it. There is some good information in there. Wes Penre]

- "For more than a century, ideological extremists at either end of the political spectrum have seized upon well-publicized incidents to attack the Rockefeller family for the inordinate influence they claim we wield over American political and economic institutions. Some even believe we are part of a secret cabal working against the best interests of the United States, characterizing my family and me as 'internationalists' and of conspiring with others around the world to build a more integrated global political and economic structure - one world, if you will. If that's the charge, I stand guilty, and I am proud of it."

- From all available evidence referenced in the "recommended sources" section below,* it's clear that the most compelling hypothesis explaining the interconnected crimes, lies, and human slaughter occurring in our modern world is that a demonic cabal took control of the United States in the early part of the twentieth century and is now methodically destroying American and world institutions and values. -

- The planet is owned and ruled by the same people; not the heads of State, but the owners of the capital. State governments, if unyielding to the superior power of the capitals, run the risk of becoming figureheads in the claws of the neoliberals. Do what we tell you to do or we will unmask the vacuum behind your façade. -

- Antony Sutton, is the author of 26 books, many of which can be purchased on-line at Amazon or Barnes & Noble. Liberty House Press at 1-800-343-6180 has copies of America's Secret Establishment and Best Enemy Money Can Buy for sale.

- "Once the secret of how the Illuminati really operates is known, it is then up to the American people and the people of the world to stage massive uprisings and protests," said Bay of Cutting Edge Ministries, a Christian ministry designed to fight the oppression and fascism of the New World Order. -

- "[Very] soon, every American will be required to register their biological property in a National system designed to keep track of the people and that will operate under the ancient system of pledging. By such methodology, we can compel people to submit to our agenda, which will affect our security as a chargeback for our fiat paper currency..." -

- The far-reaching plan is Illuminati world dictatorship. The Illuminati is the highest echelon of Freemasonry, an occult secret society dedicated to Lucifer. The world's central bankers have intermarried with the richest dynastic families of Europe and America to bring about world hegemony. They instigated wars and depressions to degrade and destroy humanity. The American people have been financing their wars since 1914. -

- The friendship between John Dee and Walsingham chief officer of Queen Elisabeth was a very special one indeed, as these two were working for Elisabeth's Intelligence Service. The intelligence community of the British illuminati yesterday as today still use the espionage technique's of illustrius illuminati John Dee the first agent in history to use 007 as his personal cypher. Dee was the man whom Ian Fleming modeled his 007 James Bond character on, the first and perhaps the best secret agent of the crown. -

- Welcome. We is commenting the Conspiracy, the Illuminati, the Enlightened one. We guard our truth with our lives. This Basilicus we found on the Web of Holy Mother. So we go translate. Translate to normal. Normal human beings. We not Shamans, we is Court, the One Almighty, a Glorious day. While Divine inspired prayer is Rewarded, we beat out the popish. Beat them out of Europe, they had their time. More will be revealed while reading. Original secret agenda will be added for more finding out. -

- Another book exposing the purposes and intentions of those in power is here printed for you: THE NEW AGE & THE ILLUMINATI - 666. This book has been compiled by William Josiah Sutton and was printed by the Institute of Religious Knowledge - 1983 -

- Illumination had long been a cherished component of Masonry and other occult groups. The Masonic candidate requests, and is promised "light in Masonry." As he goes up the ladder of initiation, he receives "more light". It is because of this society's emphasis on illumination that the AISB became known by its more common title, the Illuminati. -

- The Rockefellers and Bushes and Harrimans, and the corporations owned by most of them, have allied themselves, in the Council of Foreign Relations with a widely unknown group which are planning the final destruction of this country. It is no accident that Rockefeller bought the encyclopedia Britannica, bought into mass education in the formation of grants and trusts and has succeeded in reversing many of the principles and beliefs of the settlers of this country. -

- In his 2.5 hour video, "The Illuminati" (Code ILL), Stewart Swerdlow (Montauk Project) presents new info. on the reptilian influence on human history and the copper based blue blood royal families. -

- An area dedicated to exposing the cabals and elitists of the world that are moving towards a new world order and the plan itself. (This is the main section of research for this site and is up-dated on a regular basis.) -

- A. K. Chesterton once said: "The proper study of political mankind is the study of power elites, without which nothing that happens could be understood." He added: "These elites, preferring to work in private, are rarely found posed for photographers, and their influence upon events has therefore to be deduced from what is known of the agencies they employ." -

- Earth's anticivilization is characterized by humanoids with criminal minds controlling value-producing human beings. For 3000 years, such humanoids survived through hidden agendas designed to usurp the wealth created by the productive class. Those hidden criminals are responsible for all wars, slave-master relationships, mass thefts, purposeful property destructions, terrorisms, genocide. -

- Day by day, witness by witness, exhibit by exhibit, Patrick Fitzgerald, the prosecutor in the trial of Dick Cheney's man, I. Lewis (Scooter) Libby, is accomplishing what no one else in Washington has been able to: He has impeached the Presidency of George W. Bush. -

- by Sidney Shanberg, The New York Observer, March 05, 2007 -

(Posted here: Sunday, March 04, 2007)

The Illuminati Mind Control Series

by Greg Szymanski

* * *

Searching For the Illuminati Deep Within the Bowels Of the Vatican Series

- All roads lead to Piazza San Pietro when it comes to power, leadership and initiation into the devious and diabolical Illuminati. In the 1980's, the Vatican Bank Scandal brought to light the connections between the Freemasons/Illuminati, the Vatican and the mafia. Secret initiations are said to take place in the catacombs of the Vatican and was Pope John Paul I killed after 39 days in office for wanting to expose the truth about Vatican finances and the Illuminati? -

- On the talk shows, Svali gasped for breadth several times and was emotionally shaken when recalling how she was brainwashed as a young child and then how she was subjected to watching a young child being sacrificed at her Illuminati induction ceremony at the Vatican at age 12. Her graphic description of the evil Vatican ceremony is contained in Part II of this series. -

- In any case, it's abundantly clear that all roads lead to London. All three organizations, the Pilgrims, the 1001, and Le Cercle, have been set up and are managed by a combination of Anglophiles and zionists (2). The Pilgrims were primarily set up by the elite Privy Council and Garter families. In fact, the person who came up with the name 'Pilgrims' was a great grandfather of the late Princess Diana (3). -

- Around 400 witnesses; retired CIA people, Pilots, Lawyers, Military and Intelligence people, Scientists and different other Government employees are coming forward with classified UFO knowledge, ready to testify under oath before the Congress in an attempt to reveal the truth about UFOs and aliens.

- The City of London is run by the Bank of England, a private corporation. The City is a sovereign state located in the heart of greater London. As the "Vatican of the financial world," the City is not subject to British law. -

- Myron Fagan recorded his exposé on the Illuminati and Council on Foreign Relations in the late 1960's on three LP Records. We present his lecture in six parts representing each side of those Records. -

- We will behave as if we are not connected to keep the illusion alive. *Our goal will be accomplished one drop at a time so as to never bring suspicion upon ourselves. This will also prevent them from seeing the changes as they occur. -

- I have had the privilege to communicate with Leo, and among other things I asked him what he knew about Pindar. There have been rumors in circulation in books and on the Internet that Pindar should be the head of the Illuminati on Planet Earth, and perhaps even a full blooded Draco alien. This is what Zagami has to say about Pindar:

- The point here is that there are a lot of bastards and not all of them are Jews. (In the same way that there are good people in every race, just as there are dirtbags in every race, religion, or gender). This, to answer your original question, is why I do NOT blame ALL the JEWS: quite simply because the Jews who did and do contribute to the corporate capitalistic coup that already has happened ~ are in no way the whole problem, as I see it. -

- Leo's website was recently shut down due to him exposing the core or the Illuminati. He opened up a new website immediately after, and that one was closed down as well by the same Illuminati he exposed, and he had his life threatened, plus they told him they would take his young children away from him if he doesn't stop what he is doing.

I have decided to continue posting his very important information on MY website, www.illuminati-news.com, showing the Enemy we are not intimidated! Wes Penre -

- Scandinavian Freemasonry in the hands of the Swedish Vatican Nazi elite is so powerful that nobody ever touch them in the II World War. Actually the Swedish government even charged TRAIN TICKETS to the NAZI OCCUPATION ARMY on their way to Norway. And the Norwegian elite welcome Nazism quite openly as they were coming in. Himmler established the concept that Trondheim had to become the future capital of the so called pure Aryan Empire. I can assure you that the Vatican and the Satanic elite love this Genetically pure race naive people connected to the most bloody ancient pagan cults that still practiced in secret nowadays. -

- Gelli worked both sides. He helped to found the Red Brigade, spied on Communist partisans and worked for the Nazis at the same time, a double agent. He helped establish the Rat Line, which assisted the flight of high ranking Nazi officials from Europe to South America, with passports supplied by the Vatican and with the full acknowledgment and blessing of the United States intelligence community. While on one hand, the U.S. participated in the war crime tribunals of key Nazi officials and maintained an alliance with the Communist Soviet Union, secretly, the U.S. was preparing for the cold war and needed the help of Nazis in the eventual struggle the U.S. would have with the Soviet Union. -

- He [Bjerknes] says a heretical cult, the "Shabataian Frankists," controls organized Jewry, including Zionism and Freemasonry. They began as followers of Shabatai Zvi (1626-1676) and later Jacob Frank (1726-1791.) They believe Shabatai was the Messiah (God) and his soul has transmigrated down to the Rothschild dynasty, who are now the "king of the Jews." -

- "Either convert to Islam or die." This was the choice the Turkish Sultan put to Sabbatai Zevi, self-proclaimed Jewish "Messiah" in 1666.

By only pretending to convert, Zevi resorted to a common practice. But Zevi was not an ordinary Jew. He led a popular heresy, based on a satanic strain of Cabalism. The rabbis had denounced him and his followers.

After his "conversion," over a million followers, who later included financiers like the Rothschilds, imitated his example. But they didn't just pretend to be Muslims or Christians. They pretended to be Jews as well. -

- When it was discovered that money from Saudi Princess Haifa bint Faisal had found its way, into the hands of Al Qaeda operative and advance man for the 9/11 hijackers Omar al-Bayoumi, the Saudi Princess put forward one of the worst alibis ever concocted... -

- The world may soon resemble Jonestown if a sick Illuminati plan to "harvest" souls in 2012 comes to pass. On Oct. 18-24, 2008, a person claiming to be a "generational member of a Ruling Bloodline family" appeared on abovetopsecret.com forum. Using the moniker "Hidden Hand," he gave a convincing explanation of the demented Cabalistic beliefs motivating the Illuminati. He described how they find this dimension ("Third Density") to be "very constricting and uncomfortable" and want to be united with Lucifer ("the One" the "Creator.") This will require an apocalyptic human sacrifice or "harvest of souls" in 2012. -

- This self-acclaimed illuminati Insider appeared on the "Above Top Secret" forum recently, giving away information about the Illuminati Agenda and their goals. The reason he did that, he said, was because time is right for us to know some of what is going on behind the scenes. And when he explains WHY he needs to reveal it now, it's very convincing. In this article I will post the dialogue between the "Above Top Secret Forum" members and "Hidden Hand" in its entirety. -

- by Wes Penre, Illuminati News, Dec 27, 2008 -

(Posted here: Saturday, December 27, 2008)

Zionism and Judaism

"We [the Zionists] have it all under such control that no one -- no one or no-body can [reach] people unless it is done through our media control. (Who has had control of the mass media in the 20th century? -- Chairman of ABC pp Leonard Goldenson, President of CBS -- James H. Rosenfield, Chairman of RCS -- David Sarnoff, Chief Executive of NBC -- Fred Silverman, President of PBS -- Lawrence Grossman, Chairman of Time -- Arthur Heiskell, Editor of U.S. News & World Report -- Marvin Stone, Chief Executive of Dow Jones -- Warren H. Phillips, Editor of Newsweek -- Lester Bernstein, President of TV Guide -- Walter Annenberg, President of New York Times -- Sulzberger family, TV program producer -- Norman Lear -- these and more all are Jews!!) We have it sewed up!!"

- Sometimes, especially when you come close to the core and have peeled off quite a few layers of the onion, you notice that the truth becomes more and more uncomfortable, and there are moments when you almost want to stop your research, or at least stop publishing what you have discovered. Why? Because the truth goes against (and is many times the opposite of) everything you have been taught and raised believing, and if you present it, lots of people will be very upset and refuse to believe you, even when you present the evidence. -

- The Talmud is Judaism's holiest book (actually a collection of books). Its authority takes precedence over the Old Testament in Judaism. Evidence of this may be found in the Talmud itself, Erubin 21b (Soncino edition): "My son, be more careful in the observance of the words of the Scribes than in the words of the Torah (Old Testament)."-

- "Thus, if truth be told, it was the worldwide Jewish leadership - not the Third Reich - that effectively fired the first shot in the Second World War. Prominent New York attorney Samuel Untermyer (above right) was one of the leading agitators in the war against Germany, describing the Jewish campaign as nothing less than a "holy war." -

- "Although there are still questions, this is a staggering video which shows beyond reasonable doubt that no Jews were murdered in gas chambers, simply because there weren't any. On the contrary, the Germans took good care of their prisoners during the war and fed them well in the concentration camps, let them play sports, they had swimming pools, and they were properly dressed for cold winter days. They were fed 1100 calories/day except during the last few months of the war, when Germany was under heavy bombing attacks from the allies.. -

- The masters who controlled the British Prime Minister, French President, Polish President, etc. would not tolerate a peace being negotiated. They MUST have this war, or their Plan for World Dominion is waylaid for a time. We say waylaid, because it's become clear they've never stopped, regardless the setbacks or holdups, and today the beat goes on. Researchers/authors whose work has been suppressed have confirmed the information herein. -

- The control of the opinion-molding media is nearly monolithic. All of the controlled media — television, radio, newspapers, magazines, books, motion pictures speak with a single voice, each reinforcing the other. Despite the appearance of variety, there is no real dissent, no alternative source of facts or ideas accessible to the great mass of people which might allow them to form opinions at odds with those of the media masters. -

- In this brilliant foray into the hidden dimensions of the chronicle of black servitude, Tony Martin, professor of African History at Wellesley College, lectures on the role of Judaics in the Trans-Atlantic slave trade, and the impact of racist rabbinic texts on the formation of the contemptuous view of Africans which led to the justification of their enslavement. Dr. Martin's speech is introduced by Michael A. Hoffman II who provides insight on recent scholarly developments concerning the "Curse of Ham." -

- What this amazing list reveals is a reality that many will find hard to accept: America's "New Establishment" is overwhelmingly dominated by Jewish figures or those who are on the payroll of or dependent upon Jewish families and financial interests that bankroll the powerful Israeli lobby in America. That conclusion—however "offensive" or "controversial" in the eyes of some people—is inescapable. -

- Modern Zionism has its roots in a 17th century false Jewish messiah by the name of Sabbatai Zevi who claimed to be the promised savior of the Jews that has come to establish the Jewish kingdom in the promised land known then as Palestine. -

- Zionism supports the creation of a Jewish state in violation of the teachings of Orthodox Judaism and the Torah. Of course, there are patriotic American Jews, as well as Christians, who support and are sympathetic to the state of Israel, but not to the extent of putting such political sympathies on a level higher than their patriotism and loyalty to the United States. -

- Anyone I know who has actually read them has no doubt about them and what they represent. The Protocols, no matter who penned them, are the key to understanding the current collapse of our civilization. -

- Read the following declassified United States Military Intelligence Division Report on the Protocols of Zion and you will see that the US MID believed the Protocols to be authentic. Everything else is just Zionist noise. -

- I have read the rebuttals to these tidbits from the Talmudists and found them completely lacking in credibility...after all, it is required of them to lie...so why expect the truth? Why do they attack those online who have websites exposing the Talmud if it weren't true? Actions speak louder than words. They have attacked me for years for exposing the Talmud... -

- Foxman derives his power not from law, but by selecting those individuals he wishes to defame and smear. And of course those smeared have the right to sue; but Foxman can offer that he only acted in the self-interests of "American Jewry and Israel." And Foxman and his ADL command much wealth and legions of lawyers to bury litigants in legal fees and the courts for years. -

- This is Christopher Jon Bjerknes explosive book The Manufacture and Sale of Saint Einstein (2006) which is simply the biggest expose of Albert Einstein's plagiarism of the Theory of Relativity, and his hidden role in the history of Zionism which needed a "hero" to promote its cause. -

- It is a grave sin to practice any kind of deception whatsoever against a Jew. Against a Gentile it is only forbidden to practice direct deception. Indirect deception is allowed, unless it is likely to cause hostility towards Jews or insult to the Jewish religion... -

- I was therefore pleased to discover the attached which, I feel, puts an end to any debate as to their [The Protocols of the Learned Elders of Sion] authenticity - right from the horse's mouth! ... "Most Jews do not like to admit it, but our god is Lucifer." The above is an exact quote by Harold Wallace Rosenthal, former top Administrative Aide to the then Senator Jacob Javits, who was since defeated in the 1980 election. -

- A SHOCKING new study reveals how key figures in the pre-state Zionist establishment proposed castrating the mentally ill, sterilizing the poor and doing everything possible to ensure reproduction only among the 'best of people.'

- In 1935 the steamer "Tel Aviv" made its maiden voyage from Nazi Germany to Haifa with Hebrew letters on its bow and a Nazi flag fluttering from its mast. The Captain of the Zionist-owned ship was a member of the Nazi Party. -

- Zionism is not Judaism; Zionism is the Rothschild-led and communist international banking cartel's intent for a Jewish state, today the nation of Israel, created for the sole purpose of leading international imperialism to a one-world government domination now recognized and described as "The New World Order. -

- We implore and beseech our Jewish brethren to realize that the Zionists are not the saviors of the Jewish People and guarantors of their safety, but rather the instigators and original cause of Jewish suffering in the Holy Land and worldwide. -

- This is about Salomon Tulbure, Grand Master of the Illuminati Order. However, keep in mind that this guy is NOT accepted by the REAL Illuminati. He has his own order (he's a 'wanna be') with a similar goal (I know, because I have confronted him), but is working independently. He is probably a liability to the REAL Elite for doing it "his way", and my guess is that he is going to be "taken care of" when the time comes, by those in REAL power. (Wes Penre, Illuminati News) -

- Theodor Herzl (1860-1904), the founder of modern Zionism, recognized that anti-Semitism would further his cause, the creation of a separate state for Jews. To solve the Jewish Question, he maintained "we must, above all, make it an international political issue." -

- With 'Fortress Americas' now in tatters because of Russia's coalition with Brazil and Venezuela, Wall Street's neocons and other Zionist traitors will desperately try to avoid War Crimes Tribunals and the waiting hangman's noose, by fleeing aboard special jets to a little-known Australian island. -

- A "protection racket" is a scam whereby an aggressor instigates an attack, blames it on a bogeyman, and then offers to protect the victim from this bogeyman in return for money and power. The "War on Terror" is a protection racket. The aggressor is the world financial elite based in the City of London. The instrument is the Zionist project, specifically the Mossad and its US allies. -

- The Center supports Jewish religious bigotry, insisting that the Zionist seizure of the land of Palestine ("Zion") is ordained by God, as revealed in the Hebrew scriptures. "In fact," says Hier, "the cornerstone of our [sic] return to Zion was always based on the fact that it was a return to our historic biblical roots. -

- Mr. Freedman, born in 1890, was a successful Jewish businessman of New York City who was at one time the principal owner of the Woodbury Soap Company. He broke with organized Jewry after the Judeo-Communist victory of 1945, and spent the remainder of his life and the great preponderance of his considerable fortune, at least 2.5 million dollars, exposing the Jewish tyranny which has enveloped the United States. -

- When the British Cabinet issued the Balfour Declaration in 1917, it was over the strenuous objections of its only Jewish member, Edwin Montagu, who represented British Jewry. But non-Jews, many of whom were anti-Semites, had the final say. They saw Zionism as a way to advance British imperialism and the New World Order. -

- In Europe during the years immediately before and after World War II, the name of Douglas Reed was on everyone's lips. His books were being sold by the tens of thousands. He was known with intimate familiarity throughout the English-speaking world by a vast army of fans. And then he was banished. Was it this book? Take a look at these chapters and judge for yourself... -

- hen, why and where did Freemasonry originate? There is one answer to these questions: We do not know --." This we may not know nor have any proof of - but why then do the Royal Arch Rituals make such play about the Temple of King Solomon and claim three original Grand Lodges and Three original Grand Masters. I hope that as we proceed, the origins will become revealed. The Antients Grand Lodge, formally constituted in l751 coincided with the apparent disappearance of the Great Sanhedrin, the International government of the Jews.

- He thinks religious fanatics must be exposed and removed from power. He points to the Jewish Chabad Lubavitcher sect who want to hasten Armageddon to facilitate the intervention of the Messiah. Eggert quotes a Lubavitcher rabbi who says: "the world is waiting for us to fulfill our role in preparing the world to greet Moshiach" (i.e. Messiah.) -

- Our Zionist mind controllers have succeeded in eliminating almost all record of Robert Edmondson. Until today, there was no reference to him (or photo) on the Internet. Yet he was thrown into jail in 1936 and again in 1942 for producing hundreds of bulletins alerting his fellow Americans to an International conspiracy financed by the central bankers consisting largely of Communist Jews. This conspiracy has grown into the New World Order. -

- "The Zionist armies that now occupy Palestine claim their ancient Jewish prophets predicted that in the "last days of this world" their own God would raise them up a "messiah" who would lead them to their promised land, and they would set up their own "divine" government in this newly-gained land, this "divine" government would enable them to "rule all other nations with a rod of iron." -

- by Malcolm X (Omowale Malcolm X Shabazz) -

(Posted here: Thursday, January 01, 2009)

The Vatican and the Jesuit Order

The purpose of the Jesuit Order is, and has always been, to covertly or overtly force the 'new' variant of Satanic Sun Religion from old Babylon, Christianity, upon the world, while other branches, in conjunction with the Jesuits, are working on destroying Christianity. This is how the Illuminati works; the right hand is doing one thing and the left hand the opposite, but it all fits with the Great Plan and they achieve what they want by deception and to 'divide and conquer'. Wes Penre

- hen a Jesuit of the minor rank is to be elevated to command, he is conducted into the Chapel of the Convent of the Order, where there are only three others present, the principal or Superior standing in front of the altar. On either side stands a monk, one of whom holds a banner of yellow and white, which are the Papal colors, and the other a black banner with a dagger and red cross above a skull and crossbones, with the word INRI, and below them the words IUSTUM, NECAR, REGES, IMPIOUS...-

- The Jesuit Order is a fascist operation that hides behind the cover of 'Christianity' while actually being an elite secret society within the Illuminati web. There are two hierarchies in all Illuminati organisations - the one the public sees and the one in the shadows with the real power. -

- Peter-Hans Kolvenbach, the General of the International Military Order of the Society of Jesus, commonly known as "the Black Pope", ordered the attack on the World Trade Center and the Pentagon on Tuesday, September 11, 2001, with the advice and consent of his General Staff, composed of five assistants (each representing a hemisphere and under whom are many advisory Provincials), an advisor (resembling the likes of a military commander to warn him of any faults or mistakes), and his confessor (to ease his conscience and absolve him of his many sins). -

- First of all I want to show several close Jesuit affiliations to powerful people.

For example Jesuits as family members or close friendships, associations between Jesuits and U.S. Presidents, Governors, Senators, Hollywood stars and other well known people.

I will do this with pictures and a short description of who the people are and what was going on at the time. I expect you to research these things on your own as well. I almost always need more than one source to be convinced of something myself. Except of course when there are pictures involved. It's said a picture is worth a thousand words so I'll let the images do most of the talking. -

- In the new edition of Vatican Assassins, Phelps traces the destruction, manipulation and deception of the Jesuits going back to ancient times and to the JKF assassination, the murder of Pope John Paul I and 9/11. -

- The Jesuit order, otherwise known as the Society of Jesus (S.J.), has been the military enforcement arm of the Catholic Church since it was first founded by Ignatius of Loyola of Spain in 1534 during the reign of Pope Paul III, ostensibly to combat Protestant heresy. And while many feel that the Jesuits are only a sub-order of the Roman Catholic Church and are merely seekers and disseminators of knowledge, they have a much darker history that many people do not know about. -

- The Jesuits have always been steeped in controversy from their inception in 1540. In our first Sunday confession we hear from two loyal Jesuits, as well as starting from the beginning, asking who is America's No 1 enemy. Also, do all roads lead to the Vatican? Does the Pope take his marching orders from the Jesuit General known as the Black Pope? And is there a Jesuit cemetary [sic] on the East Coast shaped like a vagina? These are just some of the questions posed in today's first confession. -

- According to the late Jesuit priest, Fr. Alberto Rivera, whose job was to infiltrate and destroy Protestant ministries, he was privy to sensitive Vatican briefings and documents, revealing the Jesuit role in backing Hitler. Further, he was told by Cardinal Augustine Bea that Nazi gold was deposited in Vatican accounts in Swiss banks. -